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.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Red Team Established to Tackle AI-Driven Security Threats

chest

The Bitcoin Red Team has been established to proactively identify AI-assisted security vulnerabilities in the Bitcoin ecosystem.

user avatarTando Nkube

TON Validators Prepare for Configuration Vote on New Collator Architecture

chest

TON validators are updating their node software and mytonctrl tooling for a configuration vote on a new collator architecture scheduled for August 21 at 0800 UTC.

user avatarKofi Adjeman

Aave's EMode: Efficiency and Risk in DeFi Lending

chest

Aave's EMode feature allows for efficient borrowing among correlated assets but also increases the risk of liquidation during market stress.

user avatarSatoshi Nakamura

Avalanche Surpasses $3 Billion in Tokenized Real-World Assets

chest

Avalanche's tokenized real-world asset value has surpassed $3 billion, marking a significant milestone in its development as a platform for institutional finance.

user avatarNguyen Van Long

Aave's Debt Concentration Raises Concerns Amid Ethereum Volatility

chest

Aave's debt profile shows that a small number of loan positions account for a significant portion of its total outstanding debt, raising concerns about risk concentration.

user avatarJesper Sørensen

Shift in Airdrop Strategy Reflects Changing Market Dynamics

chest

Optimism's decision to reallocate tokens indicates a shift away from broad airdrops towards more strategic ecosystem investments.

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.