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News

BNB Beacon Chain Mainnet First Sunset Upgrade Has Been Successful

April 15, 2024 - Around 2 mins mins to read

Key Points:

  • BNB Beacon Chain Mainnet completes Sunset upgrade, urging asset holders to transfer funds to Binance Smart Chain ahead of decommissioning in June 2024.
  • BSC Feynman hard fork launching April 18th introduces local equity and governance features, enhancing ecosystem functionality.
  • The move aligns with the BNB Chain Fusion initiative to streamline operations, improve security, and adapt to the evolving blockchain landscape.
The BNB Beacon Chain Mainnet has successfully completed the Sunset upgrade, following meticulous preparation. This milestone comes after the recent migration of all full node operators to v0.10.20, a pivotal step in the network’s evolution.
BNB Beacon Chain Mainnet First Sunset Upgrade Has Been Successful

BNB Beacon Chain Mainnet Sunset Upgrade Completed

As part of this transition, BNB/BEP2 asset holders are urged to transfer their funds from the BNB Beacon Chain (BC) Mainnet to the Binance Smart Chain (BSC) in anticipation of forthcoming changes.

Scheduled for April 18th at 5:49 AM UTC, the BSC Feynman hardfork is poised to introduce local equity and governance features, enhancing the ecosystem’s functionality.

Looking ahead, the BNB Chain team has set June 2024 as the deadline for decommissioning the BNB Beacon Chain Mainnet. Projects utilizing BEP2 infrastructure are advised to expedite the process of transitioning to BEP20 to ensure uninterrupted operations and user safety.

Streamlining Operations for Enhanced Security and Efficiency

The rationale behind these initiatives stems from the evolving blockchain landscape and the robustness of BSC, which render the BNB Beacon Chain redundant. Developers emphasize the complexities and security risks associated with bridging the two networks.

This strategic move aligns with the overarching goal of BNB Chain Fusion, aiming to streamline operations, bolster security, and align architecture with technological advancements.

To facilitate the transfer process, users can leverage various platforms, including centralized exchanges, decentralized cross-chain platforms, and BNB Chain wallets.

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.

BEP2

BEP20

BNB Beacon Chain

BNB Beacon Chain Mainnet

BNB Chain

BSC

BSC Feynman hardfork

Sunset upgrade

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.