• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Transaction fees on the BNB Chain network have been reduced by 90% thanks to BEP 336

Transaction fees on the BNB Chain network have been reduced by 90% thanks to BEP 336

user avatar

by Eve Adams

2 years ago


On June 20, the BNB Chain ecosystem activated the hardfork BEP 336 Haber, which significantly reduced transaction costs for L2 solutions by 90% compared to previous levels. This long-awaited update was aimed at improving the overall performance of the network.

One of the key elements of the update was the introduction of BLOB objects, which are capable of handling large volumes of data, up to 128 KB each. Instead of verifying each transaction within a block individually, the network will now verify only the data within the attached BLOB. This innovation significantly simplifies and speeds up the transaction verification process.

The temporary storage mechanism, which ensures a compact and unloaded blockchain network, also plays an important role in improving performance. This approach allows the network to operate more efficiently, reducing load and increasing transaction processing speed.

The developers emphasized that the update will bring tangible benefits to users of all second-layer solutions on the BNB Chain Smart Chain. In particular, opBNB will now be able to offer further cost reductions to approximately $0.0001, making it even more attractive to users.

Furthermore, it is worth noting that earlier, BNB Chain and Binance Labs launched the BNB Incubation Alliance initiative aimed at supporting early-stage Web3 projects. This initiative demonstrates the ecosystem's commitment to developing and supporting innovations in blockchain technology.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Social Media Sentiment Remains Balanced for Bittensor

chest

Despite a surge in discussions about Bittensor on social media, sentiment remains balanced with no strong bullish trend.

user avatarSon Min-ho

Market Analysts Highlight Factors Behind Canadian Dollar Gains

chest

Market analysts provide insights into the factors supporting the Canadian Dollar's strength against the US Dollar.

user avatarAyman Ben Youssef

Stellar XLM Gains Attention for Cross-Border Payments

chest

Stellar XLM is recognized for its efficient cross-border payment infrastructure and expanding utility.

user avatarSatoshi Nakamura

New Wallet Withdraws 2,000 ETH from Centralized Exchange

chest

A newly created Ethereum wallet has withdrawn 2,000 ETH, valued at approximately $877 million, from a centralized exchange, marking a significant transaction amidst market fear.

user avatarJesper Sørensen

Donald Trump's Signature to Feature on Future US Currency

chest

The US Treasury announced that President Donald Trump's signature will be included on future US paper currency, marking a historic first for a sitting president.

user avatarRajesh Kumar

Google Introduces Gemini Switching Tools to Enhance AI Chatbot Migration

chest

Google has introduced new switching tools to facilitate the transfer of personal data and chat histories from other AI chatbots to its Gemini platform.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.