BNB Chain Announces Public Vote on BEP-341 to Enhance Blockchain Efficiency and Security

BEP-341 introduces two crucial parameters designed to address the evolving demands of the BSC ecosystem: Governance and Community Participation

BNB Chain Invites Community to Vote on BEP-341 to Optimize Blockchain Efficiency and Security

Taiwan, Taiwan, July 18th, 2024, Chainwire

BNB Chain, the community-driven blockchain ecosystem that houses the world’s largest smart contract blockchain, today announced their invitation for stakeholders and community members to participate in the voting process for BEP-341: Validators Can Produce Consecutive Blocks.

The proposal aims to enhance the blockchain’s efficiency and security by introducing two crucial parameters:

Consecutive Blocks Parameter: This parameter determines the maximum number of consecutive blocks a validator can produce. Adjusting this parameter can optimize block production and minimize the risk of validator centralization.

Anti-MEV Ratio Parameter: This parameter sets a threshold for the maximum extractable value (MEV) a validator can capture. By fine-tuning this parameter, BNB Chain aims to strike a balance between validator incentives and the overall health of the ecosystem.

Both parameters are crucial in optimizing block proposer efficiency and minimizing the risk of validator centralization, ultimately enhancing the overall security of the BNB Chain ecosystem.

To ensure broad participation and collective decision-making, BNB Chain has adopted a Snapshot-based voting mechanism. Users can participate in the vote by visiting Snapshot Voting. Only those who have staked their BNB via one of the delegators are eligible to vote. If users have not participated in BNB staking yet, they can delegate their BNB to BNB validators to become eligible.

The voting period will commence on July 18th and conclude on July 23, 2024.

For more detailed information on BEP-341, users can refer to the official blog post here.

All stakeholders and community members are encouraged to take part in this important vote, contributing to the continued development and enhancement of the BSC ecosystem.

About BNB Chain

BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is comprised of BNB Beacon Chain (BEP2), BNB Smart Chain (BEP20 + BEP721) and BNB Side Chain (BEP95).

Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.

For more, follow BNB Chain on X or start exploring via BNB’s Dapp library.

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