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Hard Fork Update For BNB Chain, Planck, Is Coming On April 12

hard fork update for bnb chain planck is coming on april 12

On April 12, 2023, BNB Chain will undergo a hard fork update known as Planck. The upgrade will primarily implement the security changes described in BEP-171 for the network’s cross-chain bridge. The information is provided by the primary team.

The BNB Chain core team has notified all parties involved about the planned Planck release. The goal is to get them ready so that the approaching changeover on April 12 happens smoothly. This is owing to the fact that validators and full node operators on the mainnet will be upgraded to 1.1.21 on this day.

hard fork update for bnb chain planck is coming on april 12 2 2

BEP-171 will be Implemented into BNB Chain

BEP-171 security modifications are planned to be incorporated into the BNB Chain hard fork. According to The Block, the goal of this proposal is to strengthen the cross-chain link between the two Blockchains that comprise the BNB Chain network. They are the Beacon Chain and the Smart Chain, respectively.

To limit the generalized effects of potential flaws in the inter-chain module, the BNB Chain hard fork allows for IAVL evidence verification to be upgraded to ICS23 standard. It will allow the addition of a time lock on large cross-chain financial transfers, the suspension of inter-channel communications in the event of evidence of tampering, and the ability for any validator to suspend cross-chain channels in the event of an emergency.

Will the Changing Gas Prices Help Binance?

Finally, these modifications will improve the security of the BNB Chain network. They will also aid in the protection of users’ funds from prospective cyber thieves. Furthermore, updating the BNB Chain hard fork might assist in increasing network efficiency and interoperability. This will initially aid in the process of moving assets and data across the two blockchains. Second, the change will make it easier for developers to create decentralized network apps.

The network may gain additional users as a result of this hard fork. Specialist dApp developers’ capacity to make cash from their apps will also improve. Will decreasing gas prices help Binance Smart Chain become even more popular?

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