$BNB Price Soars As Binance Smart Chain Implements “BEP 336” Upgrade, Inspired By Ethereum’s Dencun
Binance Smart Chain (BSC), also known as BNB Chain, has introduced the "BEP 336 upgrade," inspired by Ethereum's Dencun upgrade (EIP 4844). This upgrade aims to enhance data storage and processing efficiency on the #Blockchain .
The BEP 336 upgrade introduces "Blob-Carrying Transactions" (BlobTx), which revolutionizes handling large data blocks on the blockchain. Blobs capture data blocks up to 128 KB, simplifying transaction verification and reducing network space consumption.
Benefits of BEP 336 include reduced gas fees, improved efficiency, and a leaner blockchain. The upgrade will be rolled out in phases: #Testnet launch in April, Magnet phase in May, and mainnet hard fork in June.
Anticipated benefits include increased accessibility of transactions and enhanced network performance. The announcement of BEP 336 has already driven an over 8% increase in the price of Binance Coin (BNB), currently trading at $588.
Resistance levels for BNB price are identified at $600 and $608, potentially impeding further price appreciation towards its all-time high of $686.
Source - newsbtc.com