Key Points:

  • At block height 27,281,024, a hard fork update called Planck is anticipated for BNB Chain.

  • Validators and complete node operators on the mainnet should update their software to v1.1.21 by April 12, 2023.

  • The hard fork is intended to incorporate the recommended security changes in BEP-171.

BNB Chain will undergo a hard fork upgrade known as Planck at block height 27,281,024 on April 12. According to the core team, this change will increase network security and stability.

BNB Chain, which debuted in late 2020 as a substantial improvement to Binance Chain, has quickly developed into one of the most extensively utilized smart contract platforms, particularly in the decentralized finance (DeFi) industry.

The BNB Chain core team has asked all stakeholders to prepare for the imminent Planck update in order to guarantee a seamless transition. Validators and complete node operators on the mainnet should upgrade to v1.1.21 by April 12th, 2023.

The hard fork is intended to incorporate the recommended security changes in BEP-171. This proposal seeks to increase the cross-chain connection between the two blockchains that comprise the BNB Chain network, namely the Beacon Chain and the Smart Chain.

It offers the following to further avoid the widespread impacts of probable faults in the cross-chain module:

  • Upgrade IAVL proof verification to the ICS23 standard.

  • Add a temporal lock on large cross-chain financial transfers.

  • Forged evidence detection may automatically halt cross-chain communications.

  • In an emergency, any validator may suspend cross-chain channels.

These changes are intended to strengthen the security of the BNB Chain network and safeguard user money from possible assaults.

BEP-172 also has a hard fork. This BEP offers an upgrade for Parlia consensus to increase network stability. It modifies the offturn validators’ timestamp and delays settings. When the validator, in turn, failed to commit a block, the block mined by the offturn validator chosen at random was committed as quickly as feasible (4 or 3 seconds).

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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