BNB Chain Prepares for Major BNB Migration with Beacon Chain Upgrade
Crypto News Terminal19 Apr, 2024
BNB Chain Prepares for Major BNB Migration with Beacon Chain Upgrade
The BNB Chain team has announced that it will soon be executing a large-scale migration as part of the BNB Beacon Chain mainnet's sunset upgrade. This upgrade will involve a significant movement of BNB, but the team assures users that their funds are safe. This migration is part of the ongoing effort to improve the security and scalability of the BNB Chain. The Beacon Chain is a new blockchain that will serve as the foundation for the BNB Chain's future development. It will use a new consensus mechanism called Proof-of-Stake (PoS), which is more energy-efficient than the current Proof-of-Work (PoW) mechanism. The migration to the Beacon Chain is a major step forward for the BNB Chain. It will provide the network with increased security, scalability, and efficiency. Users can expect to see a number of benefits from this upgrade, including faster transaction times, lower fees, and increased security. Previously on April 4, Binance announced its support for the BNB Beacon Chain (BEP2) and BNB Smart Chain (BEP20) network upgrades and hard fork.
