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Planck Upgrade: BNB Smart Chain Evolution Scheduled For 6-Days Later

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BNB Smart Chain, the decentralized finance (DeFi) platform, is set to undergo a scheduled hard fork upgrade called Planck at block height 27,281,024. The upgrade is expected to occur on April 12 at approximately 13:30 (UTC), as per the latest announcement.

According to the core team, the Planck hard fork upgrade will enhance the security and stability of the network. The upgrade requires more than half of all validators to upgrade to keep making blocks successfully. 

If the existing full nodes in the network do not upgrade, they will not be able to receive and execute further blocks normally after the hard fork block height.

According to the announcement post, for full node operators, the release is breaking, and they need to switch to v1.1.21. As a developer, no changes to the EVM module are required.

Upcoming Changes For BNB Smart Chain Network

In addition to the Planck hard fork upgrade, two BEPs are set to be introduced. BEP-171 introduces several security enhancements for the cross-chain bridge between BNB Beacon Chain and BNB Smart Chain. 

These enhancements include an upgrade to IAVL proof verification, a timer lock for massive funds cross-chain transfer, and the ability for cross-chain channels to be automatically paused by forged proof detection.

The announcement post further stated that BEP-172 introduces an update for Parlia consensus to improve the stability of the network. It changes the timestamp and delays setting for off-turn validators. 

When the validator, in turn, misses its turn to commit a block, the block mined by the off-turn validator selected randomly would be committed as soon as possible.

There are also notable changes to the platform’s features, including the deprecation of “–diffsync” and the addition of a debug API callTracer option “withLog” to collect logs emitted during each call. 

Bugfixes include fixes for crashes on nil access when TxPool shutdown and boundary checks for security, as per the post.

Nevertheless, the BNB Smart Chain hard fork upgrade, along with the two BEPs and additional changes, aims to enhance the platform’s security, stability, and functionality. 

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Uniswap Community Overwhelmingly Approves V3 Deployment on Binance Smart Chain

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After a month of heated debate within the Uniswap community, the “Deployment of Uniswap V3 on the BNB Chain” proposal, put forth by 0xPlasma Labs, has officially been given the green light.

In a landslide decision, the proposal received a resounding 20 million votes in favor, accounting for a whopping 80.28% of the vote. On the other hand, those opposed to the proposal could only muster 4.9 million votes, equating to a mere 19.72%.

The approval of this proposal marks a significant step forward for the Uniswap ecosystem, as the deployment of V3 on the Binance Smart Chain is expected to bring a host of new features and improvements.

The community’s support for this proposal is a testament to Their trust in 0xPlasma Labs and their abilities to drive the Uniswap platform forward.

 Deployment Uniswap v3 On The BNB Chain: Proposal

The Uniswap community is currently buzzing with excitement over deploying Uniswap V3 on the Binance Smart Chain (BNB Chain). The proposal, put forth by 0xPlasma Labs, highlights a number of important reasons why it should be deployed on the BNB Chain as soon as possible.

One of the main reasons for the deployment is BNB Chain’s “large and growing user base, providing a potential new market for Uniswap v3.” In addition, BNB Chain’s high transaction speeds and low fees make it a suitable platform for its decentralized exchange services.

Furthermore, by making its way to the Binance Smart Chain, Uniswap would be able to capitalize on the increasing interest in DeFi within the Binance ecosystem. Additionally, it offers features such as staking and cross-chain support that could significantly improve v3’s capabilities.

Binance’s reputation for backing and promoting high-quality projects is a major advantage for the network, as it could lead to valuable exposure for the decentralized exchange. Its global reach and strong brand may also aid in raising awareness and adoption of Uniswap v3 among both retail and institutional investors.

This proposal would also open up possibilities for integration with other products and services offered by Binance, such as “the Binance Smart Chain and Binance DEX,” as well as potential collaboration and partnership opportunities with other projects within the Binance ecosystem.

The BNB Smart Chain’s strict emphasis on security and compliance provides a secure and reliable environment for Uniswap v3 to operate in. Its robust ecosystem of dApps and DeFi projects also presents opportunities for collaboration and co-development. 

Moreover, BNB Smart Chain’s support for on-chain governance allows it to adopt a more decentralized and community-driven development model. In addition, 0xPlasma Labs also proposed using Celer Bridge for the governance cross-chain messaging, adding more security and trust to the process.

However, this proposal could bring in an additional $1B of TVL, huge trading volume, and earned fees for liquidity providers, 1-2 million new users, and more adoption for Uniswap NFT Platform, as well as a huge respect and appreciation from DeFi developers.

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