BNB Chain developers have successfully activated a network upgrade called Luban, which has improved the security and reliability of transactions.
🔸Exciting news from the #BNBChain ecosystem! The highly anticipated BEP-126 update introducing Fast Finality has been successfully deployed. This is a massive step forward in ensuring enhanced security and transaction reliability.
🔸With Fast Finality, block reorganizations are…
— BNB Chain (@BNBCHAIN) June 12, 2023
The upgrade included three suggestions for improvement:
BEP-126 was considered the most significant, which implemented the first part of the FastFinality mechanism to speed up block finalization.
“What does this mean? Increased security against double spending attacks and MEV reorganizations, irreversible transactions after confirmation, and efficient operations for exchanges and DeFi protocols,” the developers explained.
They clarified that the upgrade does not directly speed up transactions or reduce fees.
BEP-174 introduced a mechanism for managing relays that help transfer assets between different blockchains. The solution is designed to secure the BSC Bridge cross-chain bridge.
The BEP-221 proposal implemented simplified block validation.
The Polyhedra Network project behind the zkBridge cross-chain solution and a lightweight zero-knowledge proof (ZKP) client for the LayerZero protocol has announced support for the Luban hard fork.
We are proud to support @BNBChain Luban upgrade on zkBridge and our zk light client on @LayerZero_Labs. Luban upgrade introduces super-fast finality and enhanced security on BNB Chain.
We keep building on BNB Chain with the most secure and efficient interoperability using ZKP.👨🏻‍💻 pic.twitter.com/jUBvNiPYqH
— Polyhedra Network (@PolyhedraZK) June 12, 2023
“The update provides ultra-fast finalization and increased security on the BNB network. We continue to develop the blockchain with the most secure and efficient interoperability using ZKP,” the Web3 startup said.
Recall that in April, the developers of BNB Chain spoke about the implemented and planned network updates.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!