BNB Smart Chain has recently revealed that a scheduled hard fork upgrade named Planck is anticipated to take place at block height 27,281,024. The estimated date for the upgrade is 12th April 2023 at 05:30 AM (UTC).
As a reporter, I would like to provide some background information for those who are not familiar with BNB Smart Chain and the concept of a hard fork upgrade. BNB Smart Chain is a decentralized platform that allows users to create smart contracts and decentralized applications (dApps).
A hard fork upgrade, on the other hand, is an upgrade that introduces breaking changes that are not compatible with the previous release. This upgrade requires more than half of all validators to successfully upgrade to keep making blocks. If the existing full nodes in the network do not upgrade, they will not be able to receive and execute further blocks normally after the hard fork block height.
The Planck upgrade is a major milestone for BNB Smart Chain as it introduces a series of new features and bug fixes. The validators and full node operators on mainnet are advised to switch their software version to v1.1.21 before 12th April 2023 to ensure they are not impacted by the hard fork upgrade. If the full node operator forgets to upgrade in time, they will not be able to sync with the upgraded BNB Smart Chain peer/validator nodes, which will result in not being able to connect or send transactions. In such cases, the full node operator will have to download and compile the latest version v1.1.21 and restart the geth process.
As a developer, there are no changes to the EVM module. Hence, no action is required on their part.
Apart from the Planck upgrade, there are two other notable changes in the upcoming BEPs (Binance Smart Chain Enhancement Proposals). BEP-171 proposes several security enhancements for the cross-chain bridge between BNB Beacon Chain and BNB Smart Chain. This includes upgrading IAVL proof verification to ICS23 spec, applying timer lock to massive funds cross-chain transfer, and allowing cross-chain channels to be paused by any validator in an emergency. BEP-172 introduces an update for Parlia consensus to improve the stability of the network.
In conclusion, the BNB Smart Chain mainnet Planck upgrade is a significant event for the Binance Smart Chain community. With the introduction of new features and bug fixes, it is a step forward towards a more secure and stable network. Validators and full node operators on the mainnet are encouraged to upgrade their software before the hard fork block height to ensure a smooth transition. As a reporter, it will be interesting to see how the Binance Smart Chain community responds to this upgrade and the impact it will have on the network.
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