The Binance Smart Chain (BSC) has announced its forthcoming major enhancement, BEP 336, drawing inspiration from Ethereum’s EIP 4844.
BEP 336 is anticipated to bring about substantial reductions in transaction fees and improvements in network efficiency, aligning with Ethereum’s Dencun upgrade going live on the mainnet. This signifies a significant milestone in the evolution of blockchain technology.
This upgrade introduces “Blob-Carrying Transactions” (BlobTx), facilitating the temporary and cost-effective storage of large data chunks of up to 128 KB. By simplifying the transaction verification process, BSC enhances efficiency, particularly benefiting opBNB, the layer 2 network within the BNB ecosystem.
The upgrade includes a blob market and a precompile contract. The former regulates the storage and transmission costs of blobs based on network demand, while the latter enhances security by verifying data in blobs against their references in transactions.
BEP 336 differentiates itself from Ethereum’s EIP 4844 through features like a dynamic gas pricing mechanism for blobs and a unique token burn mechanism tailored to BSC’s specific requirements and structure.
The rollout of BEP 336 will occur in phases, starting with its introduction on the testnet in April, followed by a Magnet phase in May for further testing and optimization. Finally, the upgrade will be implemented on the BSC mainnet in June through a hard fork.