BNB Chain Announces Public Vote on BEP-341 to Improve Blockchain Efficiency and Security

Taiwan, Taiwan, July 18, 2024, Chainwire

BNB Chainthe community-driven blockchain ecosystem that includes the world’s largest smart contract blockchaintoday announced their invitation to stakeholders and community members to participate in the voting process for BEP-341: Validators can produce consecutive blocks.

Voting period: Voting is open until July 23, 2024.

How to vote: To participate in the voting process, users must visit Instant Voting. Only those who have they staked their BNB through one of the delegates are eligible to vote. If users have not yet participated in BNB staking, they must delegate their BNB to BNB Validators to become eligible.

BEP-341 Overview

BEP-341 introduces two crucial parameters designed to meet the changing needs of the BSC ecosystem:

1. Consecutive blocks: This parameter allows BSC validators to produce blocks consecutively for a sequence of n slots, moving away from the current fixed rotation system. This change is expected to significantly increase transactions per second (TPS).
2. Mitigating MEV abuse: The proposal includes changes to the distribution of transaction fees in the SystemRewardContract. This change aims to make the abuse of Maximal Extractable Value (MEV) more costly, thus ensuring a more equitable distribution of revenue and timely processing of transactions.

Governance and community participation

BEP-341 emphasizes governance and community participation. Any changes to the parameters regarding consecutive blocks and the Anti-MEV ratio will require approval from community-driven governance. This approach ensures that BNB delegates have a say in these critical decisions.

For more detailed information about BEP-341, users can refer to the official blog post Here.

All stakeholders and community members are encouraged to take part in this important vote, contributing to the continued development and improvement of the BSC ecosystem.

About the BNB Chain

BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It consists of:

• BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees among all EVM-compatible L1s; serves as the ecosystem governance chain.
• opBNB: An L2 scalability that offers the lowest gas fees of all L2s and high processing speeds.
• BNB Green Field: Meets the ecosystem’s decentralized storage needs and enables users to create their own data marketplaces.

By setting a high level of security, the AvengerDAO the community protects the users of the BNB chain while Red alert provides a real-time risk scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.

For more information, users can follow BNB Chain on X or start exploring via BNB Dapp Library.

Contact

BNB Chain
press@bnbchain.org

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