Monday, February 26, 2024

BNB Beacon Chain hard fork adds ‘panic’ feature that can ‘halt’ blockchain

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The Binance-operated BNB Beacon Chain mainnet is ready so as to add a brand new function in its upcoming exhausting fork, which is able to give the blockchain the power to “halt” the manufacturing of latest blocks if sure circumstances are met.

In a July 12 statement from BNB Chain, the “ZhangHeng” improve is predicted to happen at block top 328,088,888, which it expects will happen on July 19.

The exhausting fork will introduce Binance Evolution Proposal BEP-255, which seeks to implement “on-chain asset reconciliation” — which Binance believes may mitigate injury from potential cross-chain bridge exploits such because the Binance Smart Chain exploit on Oct. 7, 2022. 

“Though some enhancements have been made to enhance cross-chain safety, equivalent to BEP171, the safety of belongings on the BNB Beacon Chain itself also needs to be assured, particularly after the bridge exploitation,” according to the Github put up regarding BEP-255. 

Binance defined that beneath the BEP, person steadiness adjustments might be tracked in every block and might be reconciled to establish any points.

“When there are reconciliation errors, the blockchain will panic and cease producing new blocks.”

Binance mentioned the motion will affect “downstream companies equivalent to bridges, deposits, and withdrawals on exchanges” however the “drastic motion” is important to guard the chain and its customers. 

Bringing the blockchain again on-line would require a tough fork and would require addressing the reconciliation error. 

“For instance, if exploitation exists, associated accounts needs to be blacklisted or corrected. As soon as the blockchain is resumed, downstream companies may be introduced again up as effectively,” it defined.

Rogue Key Assaults and different upgrades

Different adjustments embrace a bug repair to forestall “Rogue Key Assaults” — a safety problem the place a perpetrator produces a valid aggregate signature for a transaction versus the true proprietor of the personal keys.

“To repair the bug, all current vote addresses might be cleared up when the peak of hardfork reached,” the agency mentioned, including that validators might want to add vote addresses once more.

The exhausting fork can even purport to make the chain able to dealing with extra advanced enterprise guidelines and logic.

Associated: A beginner’s guide to the BNB Chain: The evolution of the Binance Smart Chain

Binance mentioned the exhausting fork wants two-thirds of validators to modify their software program model to v0.10.16 beforehand, in any other case, issues could come up.

Full nodes that fail to improve will be unable to execute additional blocks after the exhausting fork block top, BNB Chain defined.

BNB Chain outlined a full set of directions explaining how node operators can adjust to the exhausting fork improve, however famous that BNB token holders that use Binance.com, different centralized exchanges or chilly wallets, no motion is at the moment required.

On June 19, BNB Chain launched opBNB — a brand new Ethereum Digital Machine (EVM)-compatible layer-2 scaling answer based mostly on Optimism’s OP Stack.

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