• 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

Joseph Lubin's Wallet Moves 80,001 ETH, Sparking Market Panic

chest

A wallet linked to Ethereum cofounder Joseph Lubin has moved 80,001 ETH for the first time in over three years, causing market concern.

user avatarMaya Lundqvist

Whales React to Market Conditions Amid ETH Transfers

chest

In the wake of significant ETH transfers, various crypto whales are displaying contrasting strategies, with some selling and others buying back into the market.

user avatarLeo van der Veen

Ethereum Experiences Significant Price Drop Below $1,800

chest

Ethereum's price has recently crashed below the $1,800 mark, reaching a low of $1,536, raising concerns among investors about its future performance.

user avatarAisha Farooq

Ethereum's RSI Reaches Lowest Point Since 2015

chest

Ethereum's monthly RSI has dropped to around 40, its lowest since 2015, following a price crash below $1,800, raising speculation about potential future price movements.

user avatarLi Weicheng

Dormant SHIB Wallet Reactivated, Transferring Billions of Tokens

chest

A long-dormant Shiba Inu wallet has been reactivated, transferring nearly 400 billion tokens, raising questions about market implications.

user avatarTenzin Dorje

Shiba Inu Futures Positions Liquidated Amid Market Turmoil

chest

Over 382,000 Shiba Inu futures positions were liquidated in a single day, primarily impacting long traders.

user avatarBayarjavkhlan Ganbaatar

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.