The BNB Beacon Chain Mainnet is expected to have a scheduled hard fork upgrade at block height 264,000,000. Based on the current block generation speed, the hard fork is forecasted to occur on 2nd Sep at 6:00 (UTC). The full node runners on Mainnet must switch their software version to v0.10.1 by 2nd Sep.
The upgrade will see DEX features removed from BNB Beacon Chain, with these features remaining active on BNB Smart Chain. This will allow for more computing power on BNB Beacon Chain to focus on security and boost future computing and governance focuses.
1. Background Story
1.1 Who is Kurt Gödel？
This upgrade is named after Kurt Gödel in honor of his key contributions to the modern, metamathematical era in mathematical logic. He is widely known for his Incompleteness Theorems, which are among the handful of landmark theorems in twentieth-century mathematics.
1.2 What is a Hardfork upgrade?
A Hardfork is an upgrade that is incompatible with the previous release because some breaking changes are introduced in the latest release. A hardfork in BNB Beacon Chain requires 2⁄3 of validators to upgrade to make blocks valid. If the existing full nodes in the network do not upgrade, they will not receive and execute further blocks after the hardfork block height.
1.3 What happens during a network upgrade?
New rules and logic changes will occur for this upgrade at block height of 264,000,000. After the upgrade kicks in, the blockchain can handle a series of new business rules and logic.
2. How does this upgrade affect me?
2.1 As a BNB holder, what do I have to do?
If you are using any exchanges which support BNB (such as Binance.com, BitMax, or Gate.io), one of the wallets, or a hardware wallet (such as Ledger, Cool Wallet), there’s no action required on your side unless your exchange or wallet service notifies you.
2.2 As a BNB Beacon Chain DEX user, what do I have to do?
BNB Beacon Chain’s primary focus, its native decentralized application (“dApp”) BNB DEX, has demonstrated its low-latency matching with large capacity headroom. With the development of BNB Smart Chain and AMM-based decentralized exchanges running well on it, BNB DEX has less usage and liquidity. After the Godel upgrade, the DEX module will be disabled, which will give Beacon Chain more computing power for future computing and governance focuses.
- For funds holders. It’s recommended to refer to using BNB Chain Wallet or command line to transfer existing tokens to BNB Smart Chain for more use scenarios.
- For token issuer. For tokens already issued on BNB Beacon Chain, It’s recommended to transfer to BNB Smart Chain. For new token issue demand, it’s recommended to issue on BNB Smart Chain directly.
- For market makers. It’s recommended to migrate to other DEXs on BNB Smart Chain. There is also an upcoming BNB ZkRollup which will provide an AMM DEX with high performance and low latency. Keep an eye on that.
2.3 As a full node operator, what do I have to do?
This is a hardfork release, and you need to switch to v0.10.1. Upgrade instructions are as below (you should do all the below before the hardfork block height):
- If your node is already synced with the network, please download the new v0.10.1 binary and replace the previous version, and download the new config file app.toml to replace the previous version.
- Increase the open file limit to 65535.
- Stop the bnbchaind process and restart it with v0.10.1.
ulimit -n 65535
bnbchaind start –home <home-path>
2.4 What will happen if I forget to upgrade my full node in time?
Since this hardfork just disables some kinds of transactions ( NewOrderMsg, ListMsg, ListMiniMsg ). Even if you fail to upgrade your software on time, your node will still sync with the upgraded BNB Beacon Chain peer/validator nodes. But when you try to send these transactions, you might run into the below errors.
ERROR: broadcast_tx_commit: response error: RPC error -32603 – Internal error: Timed out waiting for tx to be included in a block
ERROR: broadcast_tx_commit: response error: RPC error -32603 – Internal error: Error on broadcastTxCommit: Tx already exists in cache
You can follow the hardfork guide in section 2.3 to upgrade your node to recover.
3. Upcoming Changes
3.1 What will change with the blockchain feature?
Follow BEP-151 to decommission decentralized exchange(DEX) on BNB Beacon Chain.
Users will be forbidden to send some DEX-related transactions ( NewOrderMsg, ListMsg, ListMiniMsg ).
After a period of time since the hardfork, the associated services will also be decommissioned. Which includes:
3.2 What will be different for users?
- The impact on general DEX users is that they will not be able to place new orders or list new trading pairs on DEX anymore. The existing orders which are not matched yet will not be matched any more. They can be canceled by the traders directly or by timeout automatically after 3 days(or 30 days for orders in the best 500 price levels, according to BEP-67), and refunded to the traders.
Thanks for your cooperation, and let’s make BNB Beacon Chain a modern and secure infrastructure for the BNB ecosystem.
BNB Beacon Chain Community
Forum: Build N Build
Twitter: https://twitter.com/BNBCHAIN
Telegram: https://t.me/BNBchaincommunity
Engineering Discord: https://discord.com/invite/bnbchain
Follow us to stay updated on everything BNB Chain!
Website | Twitter | Telegram | Youtube | Discord | Build N’ Build Forum
