BNB Chain Developer Conference: BNB Beacon Chain will exit the historical stage within six months

2024-01-13 10:16:18

Collection

ChainCatcher news, according to BNB Chain validator @48ClubIan, summarized after a conference call with BNB Chain developers:

BNB Beacon Chain will exit the historical stage within six months.
The election mechanism for BSC Validators will be transferred from BNB Beacon Chain to BSC.
The first dual-chain hard fork will take place in April this year, activating the BSC election mechanism, and after running in parallel for a while, the election mechanism on BC will be shut down.
Existing stakers of validation nodes can choose to migrate to BSC (recommended), or unstake - cross-chain - re-stake (taking an additional 7 days). If no action is taken, they will be forcibly redeemed to their wallets when the BC election mechanism is shut down.
However, since the Beacon Chain will be closed, assets will ultimately become invalid and need to be transferred before the chain stops. Affected assets include BEP-2, BEP-8, and BEP-5 Atomic Swap assets. After the migration is completed, it will be much more convenient for users to stake assets to validation nodes than it is now.

(Source Link)

Related tags

BNB Chain BNB Beacon Chain

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.