Crypto News: Binance Smart Chain (BSC), also referred to as BNB Chain, has introduced the "BEP 336 upgrade," drawing inspiration from Ethereum's Dencun upgrade (EIP 4844). This enhancement is designed to enhance data storage and processing efficiency on the blockchain. Anticipated benefits include notable reductions in transaction costs, enhanced network performance, and a potential push for Binance Coin (BNB) towards its previous all-time high (ATH) of $686, achieved in May 2021.
The protocol introduction highlights that BEP 336 introduces an innovative concept called "Blob-Carrying Transactions" (BlobTx), revolutionizing the management of large data blocks. These blobs, transient memory segments, can store data blocks up to 128 KB in size. Rather than verifying each transaction within a block, the network only needs to confirm the accuracy of the connected blob, streamlining the transaction verification process.
The implementation of blob transactions on BSC offers numerous advantages, particularly beneficial for opBNB, the BNB ecosystem's layer 2 network. Similar to Ethereum's Dencun update, blobs optimize network space utilization, reducing storage costs and making gas fees more affordable for users. This storage method ensures data availability and integrity throughout its lifespan on the chain, facilitating efficient data management while mitigating blockchain bloat.
Furthermore, BEP 336 comprises two additional components. The Blob Market establishes a competitive environment for blobs, regulating storage and transmission costs based on network demand. Meanwhile, the Precompile Contract enhances security by validating that the data in a blob aligns with the reference in the blob-carrying transaction.
While BEP 336 draws inspiration from Ethereum's EIP 4844, it has been tailored to meet the specific requirements of BSC. Notably, BSC deviates from Ethereum by mandating that blobs are managed solely by the BSC client. Additionally, BSC implements a dynamic gas pricing algorithm that establishes minimum and maximum thresholds to ensure equitable transaction pricing for blobs.
A staged strategy for BEP 336 integration has been defined by BSC. To resolve any possible concerns, developers will be able to test and engage with the update in a "controlled environment" starting with the Testnet launch in April.
To guarantee BEP 336's "robustness" and "scalability," more testing and tuning will be the main emphasis of the Magnet phase that follows in May. The official deployment of BEP 336 on the BSC mainnet will finally take place in June with the mainnet hard fork, ushering in a new age of efficiency and economy for the network.
The statement states that BEP 336's advantages should have a major influence on consumers and developers in the BSC ecosystem. Because some data types no longer need to be stored permanently, gas prices will be significantly lower, making transactions more reasonable.
The blockchain will remain bloat-free and nimble thanks to the temporary storage technique, improving network speed as a whole. BEP 336 seeks to provide accessibility to the BSC ecosystem for a broader group of people, including crypto beginners and developers, by reducing expenses and increasing efficiency.
After the news, the price of Binance Coin (BNB) increased by more than 8%. At $588, it is currently trading at a 15% discount to its all-time high of $686.
The next price resistance levels for BNB are situated at $600 and $608, respectively, and should prices rise further, they may impede the token's ability to hit its current all-time high.
Since surpassing $460, BNB has been on a steady upward trajectory, indicating a significant demand at higher levels. Despite some resistance, if buyers hold their positions and do not succumb to the bears, it may indicate that traders believe the uptrend will continue. This could potentially lead to a rise to $670 for the BNB/USDT pair. However, a drop below the psychological $500 threshold would suggest weakness, potentially leading to a decline to $460 due to accelerating sales.
According to Changelly, the lowest price for BNB will be about $1,128. One possible maximum price for BNB is around $1,323. In 2025, the trade price may average $1,160.In 2030, the value of BNB will range from $7,520 to $8,8
PricePrediction.net predicts the price of BNB will hover around $380 in 2025, while WalletInvestor projects a peak of about $475. price forecast of $462, while WalletInvestor is somewhat more pessimistic, estimating a decline to about $80 in 2030.
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