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BNB Beacon Chain Will Undergo Key Security Upgrade and Hard Fork

July 12, 2023
in Business
BNB Beacon Chain Will Undergo Key Security Upgrade and Hard Fork
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On July 19, 2023, the BNB Beacon Chain will undergo a scheduled hard fork for a significant security upgrade.

The BNB Beacon Chain is poised to undergo a scheduled hard fork and security upgrade on July 19th, 2023, as announced by the network’s technical team. This update, expected to occur at block height 328,088,888, will require all full node operators to shift to software version v0.10.16.

The upcoming changes include the introduction of BEP-255, a feature that aims to boost security on the BNB Beacon Chain through on-chain asset reconciliation. This mechanism allows for the tracking of user balance changes in each block, ensuring the detection and rectification of any inconsistencies. In the event of reconciliation errors, the blockchain is designed to halt the production of new blocks, thereby mitigating potential security threats.

In addition to the new feature, the hard fork upgrade will address a security vulnerability known as the ‘Rogue Key Attack.’ This bug, which could potentially compromise the network’s “Fast Finality” mechanism, will be rectified through the clearing of all existing vote addresses once the hard fork is activated. Post-upgrade, validators will be required to add their vote addresses once again to ensure the continued proper functioning and integrity of the BNB Beacon Chain.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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