BNB Chain to Conduct Planck Hard Fork Upgrade for Network Enhancement

On April 5th, according to official news, BNB Chain will conduct a hard fork upgrade with the code name Planck at a block height of 27281024. Based on the current network block output speed, it is predicted that the upgrade will start at 13:30 Beijing time on April 12th. The core team stated that this upgrade aims to enhance the security and stability of the network. The main network verifier and full node operator should switch their software version to v1.1.21 before April 12, 2023.

BNB Chain is expected to launch the Planck hard fork upgrade on April 12, 2023

Table 1: Outline
1. Introduction
2. What is a hard fork upgrade?
3. Planck hard fork upgrade and its code name meaning
4. The impact of the hard fork upgrade on BNB Chain
5. Security and stability enhancement of the network
6. Preparation for the upgrade
7. Conclusion
8. FAQs
Table 2: Article

Introduction

Crypto enthusiasts around the globe are waiting eagerly for the hard fork upgrade of BNB Chain, scheduled to start on April 12th at 13:30 Beijing time. As per the official news released on April 5th, the hard fork upgrade has been given the code name Planck and would be implemented at a block height of 27281024. In this article, we will discuss the details of the Planck hard fork upgrade and its impact on the BNB Chain.

What is a hard fork upgrade?

A hard fork upgrade is a significant change in the underlying code of a blockchain network, making it incompatible with previous versions. Unlike a soft fork upgrade, which retains compatibility with the previous version, a hard fork upgrade requires all nodes to upgrade their software to the new version to continue using the network.

Planck hard fork upgrade and its code name meaning

The Planck hard fork upgrade is a major upgrade for BNB Chain aimed at improving the network’s security and stability. The core team has specified that the main network verifier and full node operator should switch their software version to v1.1.21 before April 12, 2023, to avoid any interruptions during the upgrade process. The Planck hard fork upgrade derives its name from the legendary physicist Max Planck, who established the quantum theory.

The impact of the hard fork upgrade on BNB Chain

The Planck hard fork upgrade is expected to have a positive impact on the BNB Chain, as it aims to make the network more secure and stable. This move is expected to improve the user experience on the platform, making it easier for people to transact and trade cryptocurrencies.

Security and stability enhancement of the network

The BNB Chain network has had a history of security breaches and stability issues, with the most notable being the $41 million theft in May 2019. The hard fork upgrade aims to address these vulnerabilities by offering enhanced security features such as password-encrypted keystores, hardware Wallet Security, and other measures to ensure the full security of a user’s wallet.

Preparation for the upgrade

The core team has initiated proper communication channels for awareness and instruction on how to go about the upgrade for safe and seamless access to the network. Network users are advised to switch their software version to v1.1.21 before April 12, 2023. Full disclosure and an upgrade guide would be made available to everyone involved in the network, including developers, exchanges, and users of the platform.

Conclusion

The BNB Chain Planck hard fork upgrade is a bold and necessary step towards improving the network’s security and stability. It is expected to take BNB Chain to new heights in the crypto space. Therefore, the core team has made a timely, informative and optimized user-guide manual that provided users with step-by-step actions to migrate to the upgrade.

FAQs

1. What is BNB Chain?
BNB Chain is a blockchain developed by the popular cryptocurrency exchange Binance for issuing tokens.
2. How is the Planck hard fork upgrade anticipated to impact BNB Chain?
The Planck hard fork upgrade is expected to enhance BNB Chain’s security and stability, improving the network’s user experience for easy crypto transactions and trading.
3. How important is the user guide manual for the upgrade?
The user guide manual is essential because it provides users with clear and concise instructions to ensure a seamless switch to the new network version.