Cryptocurrency platform Binance has announced that it will support the upgrade and hard fork of the BNB Beacon Chain network. The update will take place at block height 234,560,000 on April 12 at approximately 09:00 UTC.
According to the Bitbunce exchange, shortly before the update, the platform will disable deposits and withdrawals in the BNB Chain ecosystem. Operations will resume when the company “is satisfied that the network is stable.”
The Descartes hard fork for the BNB Beacon Chain governance network involves the activation of the BIP-128 proposal, which is designed to improve the efficiency of the BNB Chain staking reward distribution system.
The update will reduce the load on the so-called breath block of the Binance Smart Chain blockchain. It will distribute only validator commissions. The delegates’ rewards will be placed in a separate vault and then distributed in batches to the beneficiaries.
BIP-128 also establishes the amount of the package required for the timely distribution of remuneration.
“The impact on grassroots delegates is that once the offer is activated, they will receive rewards with a slight delay. However, this delay is relatively small and can be ignored in the context of the staking process.
The Descartes hard fork was activated on the BNB Beacon Chain testnet on March 15, 2022.
Previously, the Binance Smart Chain ecosystem team rebranded the project to BNB Chain. It includes:
BNB Beacon Chain Management Network (formerly Binance Chain);
blockchain BNB Smart Chain (BSC) – formerly Binance Smart Chain;
EVM-compatible consensus levels, including multi-chain hubs.