Binance's BNB Chain has two planned forks in August aimed at improving speed, efficiency, security and compatibility of the network.
is set to undergo two hard forks in August 2023 to reduce the possibility of a malicious blockchain reorganization and increase compatibility with other Ethereum Virtual Machine blockchain networks.
“Overall, BEP-126 aims to enhance blockchain security and efficiency on the BNB Smart Chain by introducing a fast finality mechanism.” BEP-126 introduces fast finality through a series of steps. Validators begin by proposing a block to the network, which is propagated to other validators. Validators then sign for the block using their private key, creating a vote message. Voting aggregation then occurs, with validator votes gathered into a pool and aggregated if the direct parent block has enough votes.Validators must follow specific rules when voting for blocks, such as not publishing two distinct votes for the same height.
Lastly, BNB Chain validators are rewarded for voting, with those who violate the vote rules being slashed, similar to Ethereum’s proof-of-stake protocol.
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