BEP 336: Enhancing BNB Smart Chain with Blob Transactions

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

BNB
Chain
Blog.

What
is
BEP
336?

BEP
336
will
be
officially
introduced
by
the
Haber
hard
fork,
set
to
take
place
on
June
20,
2024.
BEP
336
introduces “Blob-Carrying
Transactions”
(BlobTx),
a
concept
designed
to
streamline
the
network’s
transaction
verification
process.

A
blob
is
a
temporary
and
cost-effective
memory
segment
capable
of
capturing
large
data
chunks,
each
up
to
128
KB.
Instead
of
verifying
each
transaction
within
a
block
individually,
the
network
only
needs
to
verify
the
data
within
the
attached
blob.

Key
Components
of
BEP
336

• 
  Blob
  Market:
  This
  feature
  establishes
  a
  fee
  market
  for
  blobs,
  regulating
  storage
  and
  transmission
  costs
  according
  to
  network
  demand.
• 
  Precompile
  Contract:
  This
  contract
  verifies
  that
  the
  data
  in
  a
  blob
  matches
  the
  reference
  included
  in
  the
  blob-carrying
  transaction,
  adding
  an
  extra
  layer
  of
  security.
• 
  Blob
  Propagation
  and
  Gas
  Price
  Mechanism:
  BEP
  336
  is
  tailored
  to
  fit
  BSC’s
  unique
  architecture.
  Unlike
  Ethereum,
  blobs
  on
  BSC
  are
  managed
  solely
  by
  the
  BSC
  client.
  BSC
  also
  implements
  a
  dynamic
  gas
  pricing
  mechanism
  for
  blobs.
  Additionally,
  unlike
  Ethereum’s
  fee
  burn
  mechanism,
  BSC
  does
  not
  burn
  the
  base
  fee
  associated
  with
  blobs,
  reflecting
  its
  distinct
  economic
  strategy.

BEP
336
and
BNB
Greenfield

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

Greenfield
enhances
decentralized
storage
and
data
management
with “BlobHub,”
a
data
archive
layer
that
optimizes
large-scale
data
storage
for
Layer
2
blockchains
and
decentralized
applications
(Dapps).

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

How
BlobHub
Operates

The
BlobHub
system
comprises
the
blob-syncer,
API
server,
and
bundle
service.
The
blob-syncer
fetches
and
stores
blobs
from
Ethereum
and
other
blockchains
into
Greenfield,
integrating
diverse
data
sources
within
BSC.
The
API
server
handles
historical
blob
queries
from
users,
while
the
bundle
service
aggregates,
validates,
and
uploads
blobs
to
Greenfield
efficiently.
A
post-verification
step
ensures
all
uploaded
blobs
maintain
consistency
and
integrity,
preventing
data
discrepancies
and
duplicate
uploads.

The
Benefits
of
BEP
336

The
deployment
of
BEP
336
is
anticipated
to
have
far-reaching
implications
for
both
developers
and
users
within
the
BSC
ecosystem.

Reduced
Gas
Fees

BEP
336
significantly
lowers
the
cost
of
transactions
on
the
BSC
network
by
eliminating
the
need
for
permanent
storage
of
certain
data
types.
With
the
introduction
of
blobs,
gas
fees
could
be
reduced
by
up
to
90%,
making
transactions
much
more
affordable
for
users.

Efficient
Data
Management

The
temporary
storage
mechanism
ensures
that
the
blockchain
remains
lean
and
bloat-free,
improving
overall
network
performance.
This
efficient
data
handling
strategy
helps
maintain
the
integrity
and
availability
of
data
without
indefinitely
consuming
network
space.

Enhanced
User
Experience

With
lower
costs
and
improved
efficiency,
BEP
336
makes
the
BSC
ecosystem
more
accessible
to
a
broader
audience,
from
seasoned
developers
to
blockchain
novices.
This
upgrade
also
promises
to
benefit
opBNB
and
other
Layer
2
(L2)
solutions
on
BSC.

Conclusion

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

Image
source:
Shutterstock