Decentralized smart contract network BNB Chain announced plans to discontinue Beacon Chain and launch BEP333. The company said in a statement on January 8 that BEP333, also known as the BNB Chain merger, will strengthen security and increase the efficiency of the assets used on the chain.
New Development in BNB
BNB Beacon Chain is part of an ecosystem responsible for staking and governance. The purpose of BEP333 is to support the seamless transition of BNB beacon chains from a dual chain structure to a single chain structure. As a result, BNB Chain has provided guidelines for investors to actively use the chain. According to the statement, Bitcoin (BTC) and BNB holders do not need to worry about transferring their tokens. But the situation is not the same for other crypto holders. BNB Chain said in a statement before the final closure:
Users holding assets that do not currently have cross-chain transfer capabilities are advised to contact the relevant token holder or issuer immediately
According to Token Terminal data, revenues increased by 6.4% in the last 24 hours. This increase indicates an increase in activity on the network over the period. Another metric taken into consideration is the number of core developers. At the time of writing this article, the number of core developers had dropped to 51 people. In response to the economic crisis, core developers concluded that the chain did not offer new functionality. The chain also mentioned several cases of crypto holders who may not have been able to transfer their tokens before the switch.
opBNB TVL’sinde Yeni Rekor
According to the statement, users who are late in the transfer will be able to use BEP299 token passes. The BEP299 token migration will provide users with a safe and reliable solution to restore assets to the BSC in the event that the Beacon Chain becomes inoperable. The company made the following statement regarding this issue:
For users who do not transfer their assets to the BSC network after Beacon Chain termination, BNB Chain offers a backup after Beacon Chain Fusion.
Moreover, in a separate report published in parallel with opBNB, the chain broke new records in both Daily Active Users (DAU) and Total Value Locked (TVL). opBNB is an aggregation on the BNB chain that provides users with faster transaction speeds and lower fees.
