BNB Chain has successfully tested the Pascal hardfork on its testnet. The upgrade will go live on the mainnet on March 20 at 02:10 AM UTC. The update marks a significant step forward for the network by adopting the EIP-7702 standard.
What is EIP-7702 and Its Purpose
EIP-7702 is a technical standard that allows wallets to operate like smart contracts. It simplifies the use of wallets while providing significant technical improvements to the BNB Chain network.
Technical Enhancements of the Pascal Hardfork
The upgrade introduces several important enhancements:
Gas Abstraction: Users can make transactions without directly paying for gas fees, which is beneficial for new users.
Enhanced Smart Contract Wallets: Offer greater control and security, including multi-signature, time locks, and spending limits.
Batch Transactions: Allow multiple actions in a single transaction, reducing total gas fees.
Necessary Updates and Future Development Plans
All BNB Chain node operators must update their software before the hardfork.
Updates Required:
For node operators and validators: version 1.5.7
For opBNB operators: version 0.5.2 or 0.5.6
For exchanges and infrastructure providers: test systems with the new version.
Development Plans: After the Pascal hardfork, the Lorentz hardfork is scheduled for April 2025, followed by the Maxwell hardfork in June 2025.
The Pascal hardfork is a significant technical advancement for BNB Chain, enhancing user experience, security, and wallet capabilities. Node operators and partners must update by March 20, 2025, to remain compatible with the network.
