• 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

Ric Edelman Proposes New 80/20 Investment Strategy for Retirement

chest

Ric Edelman proposes a new 80/20 investment strategy for retirement, emphasizing the importance of keeping 80% in equities and growth assets, including at least 10% in cryptocurrencies.

user avatarRajesh Kumar

Ric Edelman Predicts Bitcoin Could Surpass $150,000

chest

Financial adviser Ric Edelman predicts Bitcoin could exceed $150,000 by the end of 2026, driven by institutional investment and regulatory changes.

user avatarLucas Weissmann

Solana Breaks Out of Long-Term Descending Channel

chest

Solana has successfully broken out of a long-term descending channel, marking a significant structural shift in its price action.

user avatarFilippo Romano

Increase in Bitcoin Whale Transactions on Binance Amid Price Volatility

chest

Surge in large Bitcoin transactions on Binance indicates increased whale activity amid price fluctuations.

user avatarEmily Carter

Crypto Analyst Predicts Bullish Trend for Cardano

chest

Crypto analyst Ali Martinez predicts a bullish trend for Cardano, citing a bullish SuperTrend signal and significant accumulation among large ADA wallets.

user avatarTomas Novak

Alpenglow Upgrade and New Partnerships Boost Solana

chest

Alpenglow upgrade aims to enhance Solana's network speed by 100 times, while Western Union launches USDPT stablecoin, boosting adoption.

user avatarKaterina Papadopoulou

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.