BNB Chain (formerly Binance Smart Chain) has announced a significant update called Luban, which will take place on June 12th. This update will incorporate three BNB Improvement Proposals (BEPs): BEP-126, BEP-174 and BEP-221.
Luban activation will take place in block 29,020,050, expected to be reached on the evening of June 11th or early June 12th (UTC). All BNB Chain validators and node operators are encouraged to upgrade to v.1.2.4 prior to this time.
BEP-126 will introduce a “fast completion” mechanism for network blocks. The goal is to increase security by preventing modification of blocks after finalization. This will also reduce the possibility of specific attacks that threaten networks operating on proof-of-stake (PoS).
The proposal explains: “In the BSC, with 21 validators, the full nodes and validators can wait 14 blocks to ensure a relatively safe finalization.”
Update on BNB Chain
The second proposal, the BEP-174, addresses a critical challenge in DeFi protocols: bridges between networks. This feature will introduce “cross chain relay management”, simplifying the process of transferring tokens between different blockchains.
This is facilitated by “on-chain messengers”, called repeaters, which are currently added manually – a complex process. With the BEP-174, managers chosen by the network’s governance will supervise the registration of repeaters, making it easier to add or remove repeaters in times of crisis.
Ultimately, BEP-221 aims to improve compatibility between the BNB ecosystem networks and CometBTF, the Cosmos network application platform. This BEP is of particular importance to BNB Greenfield, a developer-driven network centered on decentralized data storage.
The long-awaited Luban update has the potential to significantly increase the security, interoperability and efficiency of BNB Chain. In this way, it can contribute to the continued evolution of the cryptocurrency ecosystem. In addition, analysts point out that it can benefit the price of BNB, the network’s native token.
