BNB Smart Chain Upgrade: Blob Transactions in BEP 336

Mar. 14, 2024
BNB Smart Chain Upgrade: Blob Transactions in BEP 336

BNB Smart Chain (BSC) is introducing a significant upgrade called “BEP 336.” Inspired by Ethereum’s EIP 4844, this upgrade aims to improve the storage and processing of data on the blockchain, leading to notable reductions in transaction costs and improvements in network performance.

BNB Smart Chain: Efficient Data Solutions

The upgrade introduces “Blob-Carrying Transactions” (BlobTx), enabling large data chunks up to 128 KB to be stored temporarily and cost-effectively. This simplifies network transaction validation processes. BNB Smart Chain (BSC) increases efficiency by checking data accuracy within blobs per transaction. The function is particularly useful for opBNB, the second-layer network of the BNB ecosystem.

In addition, two more things are part of BEP 336. The Blob Market is a blob marketplace that ensures blob costs for storage and transmission over the network depending on demand levels. Precompile Contract adds an extra level of security by checking if the data in a blob corresponds to the reference contained in its transaction.”

BEP 336 draws inspiration from Ethereum’s EIP 4844 but tailors it to meet BSC’s unique requirements. This differentiates it from how Ethereum does it by stipulating that only BSC clients should manage blobs. Furthermore, BSC introduces dynamic gas pricing for blobs to make transaction costs reasonable with set minimum and maximum thresholds.

Integrating BEP-336 into a Phased Roadmap

BSC has provided a phased roadmap for integrating BEP 336. In April, a Testnet launch will enable developers to interact with the upgrade in a “controlled environment.” This will allow them to ascertain whether any issues can be resolved before the official release.

Under the Magnet phase in May, the main priority is testing and optimizing BEP 336’s robustness and scalability. By June, the mainnet hard fork would have announced the official release of BEP 336 on BSC mainnet, paving the way for a new network efficiency and cost-effectiveness era.

The benefits of BEP 336 to developers and BSC users are expected to impact the ecosystem significantly. Some data types will not need permanent storage, which will also greatly reduce gas fees, making transactions cheaper.

Enhance overall network performance through a blockchain-lean and bloat-free temporary storage mechanism. As such, BEP 336 seeks to decrease costs and enhance efficiency within the BSC community, including developers and novices in blockchain technology.

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Rida Fatima

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An ardent wordsmith with a rich five-year background in delving into the realms of finance and cryptocurrencies. Alongside curating captivating blogs, Unique's talents extend to crafting imaginative and engaging content.