BNB Chain Gets Inspiration from Ethereum’s EIP-4844 to Launch BEP-336

BNB Chain has announced the launch of BEP-336 on June 18. Inspired by Ethereum’s EIP-4844, this new protocol aims to optimize data storage

BNB Chain Announces BEP-336 Launch, Inspired by Ethereum's EIP-4844

The BNB Chain team announced the launch of BEP-336 on June 18. This new protocol is inspired by Ethereum’s EIP-4844 and aims to optimize data storage and processing on the blockchain.

According to a press release on the BNB Chain website, a critical benefit of BEP-336 is its ability to significantly reduce transaction costs. Expectations are that these costs could be slashed by up to 90%. This development marks a significant step in making blockchain transactions more efficient and affordable for users.

BNB Chain Gets Inspiration from Ethereum’s EIP-4844 to Launch BEP-336

The BNB Chain community officially launched BEP-336 via the Haber hard fork on June 20, 2023. This new protocol, inspired by Ethereum’s EIP-4844, aims to optimize data storage and processing on the BNB Chain.

One critical feature of BEP-336 is the introduction of ‘Blob-Carrying Transactions’ (BlobTx), which simplifies the transaction verification process. A Blob is a temporary and cost-effective memory segment that can capture large data blocks, each up to 128 KB.

Instead of verifying each transaction individually, the network only needs to verify the data within the attached Blob. This innovative approach is expected to streamline operations and reduce transaction costs on the BNB Chain by up to 90%.

In other news, a recent report by Messari highlighted significant ecosystem growth for BNB Chain in the first quarter of the year. The leading Layer 1 network recorded increased user activity, leading to a quarterly network revenue spike. This growth underscores the rising interest and adoption of BNB Chain in the blockchain space.

New BNB Chain Developer Training Course Launches

Binance Academy, the educational branch of the world’s largest crypto exchange, is launching an online course in collaboration with the BNB Chain community. This course aims to train the next generation of developers in the web3 industry. It will focus on providing the basic knowledge necessary for aspiring blockchain developers to embark on their careers.

In other news, Tanzania has proposed new taxes on cryptocurrency transactions and digital content creation income. The government suggests a 3% tax on cryptocurrency transactions and a 5% tax on income from digital content creation. These measures aim to enhance government revenue and address the country’s growing digital economy.

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