BNB Smart Chain introduces an upgrade to BEP 336, inspired by Ethereum’s EIP 4844, to optimize data storage and reduce transaction costs, preparing for increased network performance.
The BNB Smart Chain (BSC) ecosystem is poised for a major leap forward with the announcement of its upcoming major upgrade, BEP 336. This new development is set to revolutionize the way data is stored and processed on the blockchain, taking inspiration from Ethereum’s EIP 4844 .The implementation of BEP 336 promises to reduce transaction costs and improve network performance, marking a milestone in the continuous development of the BSC.
BEP 336 introduces a new concept known as “Blob Transfer Transactions” (BlobTx), which are designed to process large chunks of data in a cost-effective and temporary memory segment, each block can carry up to 128 KB. The main advantage of this approach is to reduce the need to individually verify each transaction within a block. Instead, the network verifies the accuracy of the data contained in the attached blob, simplifying the transaction verification process.
This upgrade is particularly useful for opBNB, the layer 2 network that runs under the BNB ecosystem. opBNB relies on BSC to store data while using its security features. The temporary nature of spots means that they do not consume network space indefinitely, which means lower storage costs and, therefore, reduced gas charges for users.
Key components of BEP 336 include the Blob Market, which introduces a blob fee market to regulate costs according to network demand, and the Precompile Contract, which further protects the network by verifying that the blob data matches its reference transaction.
BSC’s unique architecture necessitated the development of a special propagation and taint resistance strategy, which differentiates it from Ethereum’s approach. In addition, the BSC will implement a dynamic gas pricing mechanism for patches, with minimum and maximum thresholds to maintain reasonable transaction costs, a feature missing from Ethereum’s implementation.
The BEP 336 phased rollout plan begins with a testnet launch in April, allowing developers to evaluate and interact with the upgrade. This will be followed by a Magnet phase in May for continued testing and optimization, culminating in a Mainnet hard fork in June marking the official deployment of BEP 336.
The expected benefits of this upgrade extend across the BSC ecosystem. Users can expect reduced gas fees and more efficient data management, which together ensure that the blockchain remains bloated, improving overall network performance. These improvements make BSC more user-friendly and accessible, potentially attracting a wider audience, from experienced developers to newcomers to blockchain technology.
Looking ahead, BNB Chain has a strategic vision for 2024 with a focus on improving scalability and user experience. “Parallel EVM Re-Architecture” is one such initiative aimed at significantly increasing transaction processing and scalability. BNB Chain is also further developing opBNB with the “Rollup as a Service” (RaaS) initiative to help large-scale Dapps develop custom L2 solutions and implement a “path-based storage scheme” (PBSS) to further optimize storage.
In conclusion, BEP 336 reflects BNB Chain’s proactive and innovative approach to addressing the challenges of data management and transaction costs. The upgrade is a testament to BNB Chain’s commitment to scalability and efficiency, ushering in a transformational period in the network’s growth.
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