BNB Chain Prepares for July ‘ZhangHeng’ Hard Fork to Boost User Safety

In an effort to fortify security measures for its users, developers have announced a significant upgrade for BNB Chain, aptly named “ZhangHeng.” This eagerly awaited hard fork is scheduled to occur on July 19, 2023, at 6:00 UTC.

A hard fork involves a permanent alteration to a network’s operations through a software upgrade. It’s important to note that no additional BNB tokens will be generated during this upgrade. However, it does require at least two-thirds of BNB Chain validators to update their nodes to effectively process blocks after the upgrade.

Gearing Up

Validators, crucial entities within the blockchain ecosystem, leverage computational power to validate transactions and maintain network security.

Meanwhile, the developers have meticulously implemented mechanisms, as proposed in BEP-255, to meticulously track user balance changes in each block and ensure proper reconciliation to identify any potential issues. Should a reconciliation error occur, the blockchain will temporarily halt the production of new blocks, impacting critical services like bridges, deposits, and withdrawals on exchanges.

The developers have underscored the necessity of this course of action to safeguard the chain and its users. They are urging core developers and community members to promptly address and rectify any issues that arise.

User Protection is Key

These measures have been put in place to shield users’ token holdings, particularly in the face of potential exploits such as bridge attacks. Bridges, which facilitate the seamless transfer of tokens between different blockchain networks, are integral to the ecosystem. However, they are also prone to vulnerabilities, with recent bridge-based exploits resulting in staggering losses totaling approximately $2.66 billion, according to DefiLlama.

The upcoming upgrade to BNB Chain is poised to address these concerns head-on, bolstering network security and fostering a safer environment for its users. What do you think?