"BNB has become more prominent lately, can its price go up in the future?"
Introducing BNB Evolution Proposal (BEP)-336, BNB Chain has finally successfully activated Haber's hard fork to optimize data storage and processing on the network claiming a 90% reduction in blockchain fees.
BNB Chain is pleased to note that opBNB's optimistic layer-2 rollup solution will see its network fee reduced to approximately $0.0001.
So here it can be seen that the new update can make transactions not need to be confirmed individually in blocks but rather be confirmed in attached blobs which are temporary memory segments that capture large data.
Although the update looks similar to EIP-4844 Ethereum (ETH), BNB Chain says BEP-336 is adapted for BSC where the blobs on the BSC are managed by its customers and there is also the implementation of a pricing mechanism.
There is no denying that the new update is expected to affect BNB Greenfield, but BNB Chain said Greenfield will improve its decentralized storage and data management with BlotHub which is a data archive layer.
The new hard fork comes amid the price of BNB Chain-founded cryptocurrency Binance Coin (BNB) hitting an all-time high of $717.48 before undergoing a correction again on June 18, but the price could potentially rise due to the positive development.
As of this writing, the price of BNB which is currently trading at $586 still recorded a decrease of 1.88% in the last 24 hours with a market capitalization of over $86 billion then down 2.70% over the last week.
