BNB Beacon Chain Hard Fork Introduces Powerful Feature for Blockchain Control
Key Points
- The upcoming ZhangHeng hard fork for the BNB Beacon Chain mainnet represents an important step towards improving security and functionality.
- The introduction of on-chain asset reconciliation through BEP-255 and measures to address security vulnerabilities will enhance the overall resilience of the blockchain.
- As Binance and its community prepare for the hard fork, the focus remains on reinforcing the chain’s security measures and providing a robust platform for users to participate in the BNB ecosystem.
The BNB Beacon Chain mainnet, operated by Binance, is gearing up for the ZhangHeng hard fork scheduled for July 19. This significant upgrade aims to bolster security and introduce new features to enhance the blockchain’s functionality.
The ZhangHeng hard fork will introduce Binance Evolution Proposal BEP-255, focusing on on-chain asset reconciliation. This crucial feature aims to mitigate potential damage from cross-chain bridge exploits, such as the previous Binance Smart Chain exploit in October 2022. By tracking user balance changes in each block, the blockchain can identify and reconcile any issues, ensuring the security of assets on the BNB Beacon Chain itself.
The hard fork also addresses security concerns related to Rogue Key Attacks, where perpetrators produce valid aggregate signatures using private keys not owned by them.
Additionally, it enhances the chain’s capability to handle more complex business rules and logic, further fortifying the overall security infrastructure of the BNB Beacon Chain.
To successfully implement the hard fork, Binance emphasizes the need for two-thirds of validators to switch to version v0.10.16 of the software.Failure to upgrade may lead to complications, and full nodes that do not upgrade will be unable to execute blocks beyond the hard fork block height.
While the hard fork will impact downstream services like bridges, deposits, and withdrawals on exchanges, Binance considers this drastic action necessary to safeguard the chain and its users. Once the blockchain resumes, necessary measures will be taken, such as blacklisting or correcting affected accounts, ensuring a secure environment for all participants.
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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BNB Beacon Chain Hard Fork Introduces Powerful Feature for Blockchain Control
Key Points
- The upcoming ZhangHeng hard fork for the BNB Beacon Chain mainnet represents an important step towards improving security and functionality.
- The introduction of on-chain asset reconciliation through BEP-255 and measures to address security vulnerabilities will enhance the overall resilience of the blockchain.
- As Binance and its community prepare for the hard fork, the focus remains on reinforcing the chain’s security measures and providing a robust platform for users to participate in the BNB ecosystem.
The BNB Beacon Chain mainnet, operated by Binance, is gearing up for the ZhangHeng hard fork scheduled for July 19. This significant upgrade aims to bolster security and introduce new features to enhance the blockchain’s functionality.
The ZhangHeng hard fork will introduce Binance Evolution Proposal BEP-255, focusing on on-chain asset reconciliation. This crucial feature aims to mitigate potential damage from cross-chain bridge exploits, such as the previous Binance Smart Chain exploit in October 2022. By tracking user balance changes in each block, the blockchain can identify and reconcile any issues, ensuring the security of assets on the BNB Beacon Chain itself.
The hard fork also addresses security concerns related to Rogue Key Attacks, where perpetrators produce valid aggregate signatures using private keys not owned by them.
Additionally, it enhances the chain’s capability to handle more complex business rules and logic, further fortifying the overall security infrastructure of the BNB Beacon Chain.
To successfully implement the hard fork, Binance emphasizes the need for two-thirds of validators to switch to version v0.10.16 of the software.Failure to upgrade may lead to complications, and full nodes that do not upgrade will be unable to execute blocks beyond the hard fork block height.
While the hard fork will impact downstream services like bridges, deposits, and withdrawals on exchanges, Binance considers this drastic action necessary to safeguard the chain and its users. Once the blockchain resumes, necessary measures will be taken, such as blacklisting or correcting affected accounts, ensuring a secure environment for all participants.
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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