BEP 336: Enhancing BNB Smart Chain with Blob Transactions





The BNB Chain is set to undergo a transformative upgrade with the introduction of BEP 336, inspired by Ethereum’s EIP 4844. The upgrade aims to optimize data storage and processing on the blockchain, reducing transaction costs by up to 90% and improving network performance. BNB Chain Blog.

What is BEP 336?

BEP 336 will be officially introduced via the Haber hard fork scheduled for June 20, 2024. BEP 336 introduces “Blob-Carrying Transactions” (BlobTx), a concept designed to streamline the network’s transaction validation process.

A blob is a temporary, cost-effective memory segment that can capture large chunks of data up to 128 KB. Instead of individually verifying each transaction in a block, the network only needs to verify the data in the connected blob.

Key Components of BEP 336

  • Blob Market: This feature establishes a pricing market for blobs, adjusting storage and egress costs according to network demand.
  • Contract pre-compilation: This contract adds an extra layer of security by validating that the data in a blob matches a reference included in the transaction that carries the blob.
  • Blob propagation and gas price mechanics: BEP 336 is tailored to BSC’s unique architecture. Unlike Ethereum, blobs on BSC are managed exclusively by BSC clients. BSC also implements a dynamic gas pricing mechanism for blobs. Moreover, unlike Ethereum’s fee burning mechanism, BSC does not burn the base fee associated with blobs. This reflects BSC’s unique economic strategy.

BEP 336 and BNB Greenfield

The BEP 336 update will also have a major impact on BNB Greenfield.

Greenfield powers decentralized storage and data management using Layer 2 blockchain and a data archiving layer called “BlobHub” that optimizes large-scale data storage for decentralized applications (Dapps).

BlobHub ensures data integrity, accessibility, and longevity, key factors in a data-intensive blockchain environment.

How BlobHub works

The BlobHub system consists of BLOB Sync, API Server, and Bundle Service. BLOB Sync retrieves blobs from Ethereum and other blockchains and stores them in Greenfield, integrating various data sources in BSC. API Server handles historical blob queries from users, and Bundle Service efficiently aggregates, validates, and uploads blobs to Greenfield. Post-validation steps ensure the consistency and integrity of all uploaded blobs and prevent data inconsistencies and duplicate uploads.

Benefits of BEP 336

The introduction of BEP 336 is expected to have far-reaching impacts on both developers and users within the BSC ecosystem.

Reduce gas bills

BEP 336 significantly reduces the cost of transactions on the BSC network by removing the need to persistently store certain data types. The introduction of BLOBs reduces gas fees by up to 90%, making transactions much more affordable for users.

Efficient Data Management

The temporary storage mechanism keeps the blockchain lean and bloat-free, improving the overall performance of the network. This efficient data processing strategy maintains data integrity and availability without consuming network space indefinitely.

Enhanced User Experience

BEP 336 will reduce costs and increase efficiency, making the BSC ecosystem accessible to a wider range of users, from seasoned developers to blockchain newbies. The upgrade is also expected to benefit opBNB and other Layer 2 (L2) solutions on top of BSC.

Conclusion

With BEP 336, BNB Smart Chain is poised to deliver unprecedented cost savings and efficiencies by addressing the twin challenges of data management and transaction costs. As the deployment of BEP 336 nears, the potential for innovation and growth within the ecosystem has never been greater. Stay tuned for further updates as we approach the mainnet hard fork.

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