3 distinct enhancements intendย to make the network quicker and more secure.
Blockchainย Tech network BNB Chain is expected to undergo a network upgrade at block height 29,020,050, estimated to arrive on June 11 at 21:30 UTC, developers released on GitHub.
Network improvements typically attract investors and users to blockchainย tech ecologicalย systems as they allow developers to provide moreย great features. BNB Chain utilizes the bnb cryptoย token (BNB) for users to pay charges with and vote on network changes โ meaning such upgrades could contribute toward the value proposition for bnb in the future.
The Luban hard fork incorporates 3 different Binanceย Cryptoย exchange Smart Chain (BSC) Evolution Proposals (BEPs): BEP-126, BEP-174 and BEP-221, which cumulatively intendย to make the network quicker and moreย safe for users.
BEP-126 introduces the โFast Finalityโ mechanism, which makes it impossible for a block to be reversed once it is finalized on the network. This reduces the likelihoodย of a chain reorganization by bad actors, if that situation ever arises.
Blocks refer to data within the blockchainsย teck where transactional data is permanently recorded and secured by cryptography. These are finalized by network entities wasย known validators, and can theoretically be reserved if a bulkย of those validators collude and decide to revert to a data point in the past.
BEP-174 brings forth a โCross Chain Relayer Management,โ which intendsย to mitigate any potential security issues in the BSC Bridge. Attacks on bridges were the largest security threat in the cryptocurrency sector in 2022 โ making this a critical area to deploy solutions.
Relayers are on-chain messengers who help transfer cryptoย tokens betwixt different blockchainsย teck via bridges, playing an important role in ensuring that such transactions are completed smoothly. These relayers are typically whitelisted entities that asย ofย now must be manually added in a complex process.
Nonetheless, BEP-174 will introduce โmanagersโ for relayers that are selected by on-chain governance. These managers would be inย chargeย of managing the registration of individual relayers in a way that makes it easy to remove or add any relayer withinย a potential time of crisis.
Lastly, BEP-221 brings forth the โCometBFT Light Block Validation,โ a system that proposes adding a new contract to blockchainsย teck that use CometBFT technology.
This contract helps verify specific blocks from other CometBFT-compatible blockchainsย teck and enables the transfer of data betwixt those blockchainsย teck, such as the storage-focused BNB Greenfield, and the BNB Chain.
Oliver Knight.
