BNB Slashes Gas Fees By 90% With Haber Hard Fork

The highly-anticipated Haber hard fork went live on the BNB chain, slated to bring a massive 90% reduction in gas fees. Inspired by Ethereum’s EIP 4844, the major update introduces BEP 336, which optimizes data storage and processing on the blockchain, significantly slashing transaction costs and enhancing network performance. 

BEP 336’s “Blob-Carrying Transactions” [BlobTx] streamline the network’s transaction verification process by capturing large data chunks in a temporary, cost-effective memory segment. Similar to Ethereum’s EIP 4844, this temporary data storage can pack up to 128 KB individually. The network’s job becomes comparatively less tedious as it is required to verify the data within the attached blob instead of verifying each transaction within a block individually.

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. 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. 

Apart from that, the BEP 336 update is touted to overhaul the BNB Greenfield, a decentralized storage and data platform within the BNB ecosystem. It is supposed to optimize large-scale data storage for Layer 2 blockchains and decentralized applications [Dapps].

Additionally, the hard fork also integrates opBNB, a new layer that optimizes transaction processes, making sure they run faster and more reliably.

BNB & Binance New Initiative

Recently, BNB Chain and Binance Labs partnered to launch the BNB Incubation Alliance (BIA), a new initiative to accelerate the growth of early-stage blockchain projects. This incubator program will provide participants with opportunities for potential investment from the grants, alongside fast-tracking successful projects into the Most Valuable Builder [MVB] program.

As reported by TronWeekly, the BIA is designed to nurture early-stage projects through a series of global events hosted in collaboration with prominent venture capitalists, incubators, and developer communities. This collective effort aims to provide comprehensive support and strategic partnerships essential for growth and innovation within the ecosystem.