BNB Beacon Chain’s Scheduled Barral Hard Fork Upgrade and Its Impact on Cross-Chain Bridging
On April 17th, according to the official blog, the BNB Beacon Chain is expected to undergo a scheduled Barral hard fork upgrade at block height of 310182000. Based on the current b
On April 17th, according to the official blog, the BNB Beacon Chain is expected to undergo a scheduled Barral hard fork upgrade at block height of 310182000. Based on the current block generation speed, it is expected that a hard fork will occur on April 21st at 15:00 Beijing time. All node operators on the main network must switch their software version to v0.10.10 before April 21st. In this upgrade, BEP171 will introduce several security enhancements for cross chain bridging between BNB beacon chains and BNB smart chains (BNBSmartChain). In order to further eliminate the widespread impact of potential issues in cross chain modules, BEP171 proposes the following improvements: 1. Upgrade IAVL proof validation to the ICS23 specification. 2. Apply timer locks to massive cross chain fund transfers. 3. Through forged proof detection, cross chain channels can automatically pause. In emergency situations, any verifier can suspend cross chain channels.
The BNB beacon chain is scheduled to undergo a Barral hard fork upgrade on April 21st, introducing several security enhancements across the chain
On April 17th, the official blog announced that the BNB Beacon Chain will undergo a scheduled Barral hard fork upgrade at block height of 310182000. The upgrade is expected to happen on April 21st at 15:00 Beijing time, considering the current block generation speed. This upgrade introduces several security enhancements for cross-chain bridging between the BNB beacon chains and the BNB smart chains (BNBSmartChain), specifically focusing on the BEP171.
# Table of Contents
– Introduction
– What is a hard fork upgrade?
– Schedule of the Barral hard fork upgrade
– Why the upgrade is needed?
– Improvements brought in by BEP171
– Conclusion
– FAQs
Introduction
The Binance Smart Chain (BSC) is a high-performance blockchain that runs in parallel with the Binance Chain. The BSC facilitates the creation of smart contracts and high-speed transactions. It also allows users to connect with other Binance ecosystems like the Binance DEX (Decentralized Exchange) and Binance Launchpad. The BNB Beacon Chain is a network that serves as a link between multiple chains.
What is a hard fork upgrade?
A hard fork is a change in the blockchain protocol, resulting in two versions of the blockchain. This change can be permanent or temporary. In a permanent change, the new version of the blockchain creates a new cryptocurrency, while the old one still exists. Only the new version can receive updates, and users can transfer funds between the two versions. In a temporary change, the old version of the blockchain is abandoned, and only the new version exists.
Schedule of the Barral hard fork upgrade
The BNB Beacon Chain is a network that connects different blockchains, and it is set to undergo a scheduled Barral hard fork upgrade at block height of 310182000, which is expected to happen on April 21st at 15:00 Beijing time. All node operators on the main network must switch their software version to v0.10.10 before April 21st.
Why the upgrade is needed?
Cross-chain bridging is a process of transferring digital assets from one chain to another. As this process involves multiple chains, it is critical to ensure the security and integrity of the transfer. The BEP171 introduces several security enhancements for cross-chain bridging, which is the main reason for this scheduled hard fork upgrade.
Improvements brought in by BEP171
The hard fork upgrade introduces several improvements to the BNB Beacon Chain to strengthen the security of cross-chain bridging. These improvements include:
1. **Upgrade IAVL proof validation to the ICS23 specification:** The upgrade proposes to replace the current IAVL (Interleaved Atomic Value Lattice) proof validation with ICS23 (Interchain Structured Coincident Proof) specification, which is a more advanced version of the former.
2. **Apply timer locks to massive cross-chain fund transfers:** Cross-chain fund transfers typically have more risk associated with them. To address this, the upgrade proposes to apply timer locks to massive cross-chain fund transfers that have high-value transactions. This process allows you to delay the transfer between two chains until a specific duration after the transfer request has been initiated.
3. **Through forged proof detection, cross-chain channels can automatically pause:** In the case of an anomaly occurring during a cross-chain transfer, the proposed upgrade will automatically detect the anomaly and pause the cross-chain channels responsible for the transaction. This ensures that all cross-chain channels are operating optimally.
Conclusion
The scheduled Barral hard fork upgrade on April 21st for the BNB Beacon Chain is an essential upgrade that strengthens the security and integrity of cross-chain bridging between BNB beacon chains and BNB smart chains (BNBSmartChain). With the enhancements proposed by BEP171, cross-chain fund transfers will be performed with high-security measures in place.
FAQs
1. What is the Barral hard fork upgrade, and when will it happen for the BNB Beacon Chain?
– The Barral hard fork upgrade is a scheduled upgrade for the BNB Beacon Chain, set to happen at block height of 310182000, which will take place on April 21st, 2021, at 15:00 Beijing time.
2. What are the security enhancements proposed by BEP171?
– The proposed security enhancements are upgrading IAVL proof validation to the ICS23 specification, applying timer locks to massive cross-chain fund transfers, and detecting forged proof to pause cross-chain channels automatically.
3. Why do we need a hard fork upgrade for the BNB Beacon Chain?
– The hard fork upgrade is a critical step towards enhancing the security and integrity of cross-chain bridging between BNB beacon chains and BNB smart chains (BNBSmartChain). The upgrade proposed by BEP171 will address several security measures needed to perform cross-chain transactions with maximum security in place.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/15898/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Republic invests in Astra Protocol’s utility token for KYC and KYB services
It is reported that the decentralized KYC platform Astra Protocol said that the investment platform Republic will purchase 10 million ASTRA, which is the local…
-
What Does the Antminer Mine (Antminer Daily Earnings)
What does the Antminer mine? The profitability of mining is determined by the co
-
Blockchain Founders Fund completes second phase of fundraising
It is reported that Blockchain Founders Fund (BFF) announced the completion of its second phase of fund raising, with the participation of major investors, fam…
-
The Rise of the Cryptocurrency Industry: A Multi-billion Dollar Business
On April 26th, according to the \”2022-2030 Cryptocurrency Industry Data Handbook\” released by Grand View Research, the global cryptocurrency industry reached $400.9 billion in 2021
-
What is BTC36 (What is BTCC Instructor Certification)?
What is BTC36? Bitcoin is a highly secure cryptocurrency that is subject to str
-
Neutral Territory: Panic and Greed Index
It is reported that today\’s panic and greed index is 50 (yesterday\’s 49), and the rating is still neutral.
Today\’s panic and greed index is 50, and the…
-
Copper shifts focus to Clear Loop hosting, shuts down software department
It is reported that Copper, a British encryption and hosting company, will close its software and infrastructure development department to focus on the Clear Loop hosting and settlement business. Copper’s corporate division focuses on providing digital asset custody and infrastructure solutions for banks and funds. Sources say layoffs have begun, but it is too early to say how many people will be affected. Encryption hosting company Copper will shut down its software and infrastructure development department Analysis based on this information:Copper, a well-known encryption and hosting company based in the United Kingdom, has made a significant decision to close down its software and infrastructure development section. This move is part of the company’s critical strategy to concentrate on its core business, the Clear Loop hosting, and arrangement service. The company’s corporate division specializes in providing digital asset custody and infrastructure solutions to Banks and other financial institutions. Copper’s aim is to strengthen its position in the digital asset custody market…
-
China Explores New Paths for Legal System Integration in the Digital Era
On March 16th, the State Council Information Office issued a white paper titled “Building the Rule of Law in China’s Network in the New Era” on March 16th, which pointed out that China is actively exploring new paths, new fields, and new models for the deep integration of judicial activities and network technology, so as to “accelerate” social justice. “The Construction of China’s Network Rule of Law in the New Era” White Paper: Actively promoting the in-depth application of modern technologies such as blockchain in areas such as litigation services Analysis based on this information:The State Council Information Office released a white paper recently, entitled “Building the Rule of Law in China’s Network in the New Era” on March 16th, in which it discussed the Chinese government’s efforts to integrate its legal system with network technology. The paper noted that China is constantly exploring new models and fields to ensure that the country’s judicial activities are in line with technological…
-
#Table of Contents
On March 23, it was reported that Versa, a crypto smart contract wallet, completed seed round financing, led by STEPN developer Find Satoshi Lab, and participated by Folius Venture
-
Microsoft plans to complete its acquisition of Activision Blizzard
According to reports, Microsoft is planning to complete its acquisition of Activision Blizzard for $69 billion, despite the Federal Trade Commission (FTC) blocking the deal in Dece
-
BNB Chain Launches Innovation Training Camp Program
On April 24th, BNB Chain launched the Innovation Training Camp program BNB Chain Bootcamp, aiming to establish a developer community through this program, help developers understan
-
Angle Protocol And Euler’s Vulnerability
On March 14, the official of the decentralized stable currency protocol, Angle Protocol, said that AngleProtocol was affected by Euler’s vulnerability exploitation, and the protocol deposited 17.6 million USDCs into Euler. The agreement has been suspended, the debt ceiling has been set to 0, and Euler AMO has been closed. The situation is being monitored and will be updated immediately after receiving the update. Angle Protocol: 17.6 million USDC funds are affected by Euler attack Analysis based on this information:On March 14, an official from the Angle Protocol revealed that the decentralized stable currency protocol had been affected by Euler’s vulnerability exploit. According to the announcement, the attackers had deposited 17.6 million USDCs into Euler, which is an algorithmic money market protocol built on the Angle Protocol. As a result, the Angle Protocol has suspended the agreement, set the debt ceiling to 0, and closed Euler AMO, the asset management platform that provides liquidity to Euler. Euler’s vulnerability refers to…
-
Coin Safety Transfers Zero Fee Bitcoin Transaction from BUSD to TUSD
According to reports, the CEO of Coin Safety said that in view of recent events, they are transferring the zero fee BTC transaction from BUSD to TUSD. CEO of Coin Security: Transferring zero fee BTC transactions from BUSD to TUSD Analysis based on this information:The cryptocurrency market has been abuzz with news of the transfer of zero fee Bitcoin transactions from BUSD to TUSD by Coin Safety. This announcement was made by the company’s CEO, in response to recent events that have occurred in the crypto world. This has caused a stir among crypto enthusiasts as they try to decipher the reason behind this move and what it means for the future of Bitcoin transactions on these platforms. Coin Safety is a leading cryptocurrency exchange, known for providing enhanced security measures for digital asset transactions. Its decision to move zero fees BTC transactions from BUSD to TUSD has caused a lot of confusion among the crypto community. However, Coin Safety…
-
What is the blockchain of Bitcoin (What chain does the blockchain used by Bitcoin belong to)?
What is the blockchain of Bitcoin? In the early days of Bitcoin, there were two
-
Web3 Community Management Platform TYB Joins Shopify App Store: A Win-Win for Brands and Customers
According to reports, the Web3 community management platform TYB has announced its participation in the Shopify App Store. TYB (Try Your Best) is built on the Avalanche blockchain,
-
Moonbirds’ Launch Of Diamond Exhibition NFT: A New Era Of Digital Art
It is reported that Moonbirds, a blue chip NFT project, announced the launch of Diamond Exhibition NFT for the second batch of artists on social media, involving 10000 NFT works by