Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Bitcoin (BTC) surges past $42k, Eyes post-halving surge

    January 29, 2024

    The added Security for Crypto Accounts

    September 17, 2023

    Ripple urges SEC to stick to statutes and leave new crypto rules to Congress

    March 22, 2025
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Bitcoin Makes History With Highest Monthly Close, But Volume Is Still Bearish

      July 3, 2025

      Dow, S&P 500, Nasdaq mixed as investors weigh tariff talks

      July 1, 2025

      Saylor Strikes Again: Strategy Bags Another 4,980 Bitcoin in Latest Buying Spree

      June 30, 2025

      Bitcoin Bears Are Taking Fresh Market Positions, But Are They Safe?

      June 29, 2025

      $430M in Transactions as Virtual Asset Payments Surge 630% in a Year

      June 28, 2025
    • Technology

      Comment on XRP ETF Race Heats Up As SEC Reviews Filings by BONK Memecoin Pumps Over 16% amid ETF-Driven Interest

      July 3, 2025

      Arizona Governor Hobbs Vetoes Digital Asset Reserve Bill, Stalling State Crypto Agenda

      July 2, 2025

      XRP ETF buzz boosts XYZVerse presale momentum as investors eye a potential breakout

      July 1, 2025

      Comment on Metaplanet Joins Top 5 Bitcoin Holders With 13,350 BTC as Stock Surges 10% by Hiko Arnold

      June 30, 2025

      Crypto Theft Surge: $2.1 Billion Stolen in First Half of 2025

      June 29, 2025
    • Learn/Guide

      Will the Bullish Trend Continue?

      July 3, 2025

      Coinbase acquires web3 startup Liquifi after $2.9B Deribit deal

      July 2, 2025

      Platform Utility meets Scarcity: How $Fun’s in-game demand boosts its price

      July 1, 2025

      Ripple-backed XRP Ledger launches EVM-compatible sidechain on mainnet

      June 30, 2025

      REX-Osprey Ethereum, Solana staked ETFs may launch soon as SEC raises no objections

      June 29, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » All you need to know about BNB Chain’s upcoming Fermat hard fork
    Technology

    All you need to know about BNB Chain’s upcoming Fermat hard fork

    October 27, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    All you need to know about BNB Chain’s upcoming Fermat hard fork
    Share
    Facebook Twitter LinkedIn Pinterest Email



    • The protocol wants to assist in gas fee reduction for L2 transactions.
    • Development activity on the network dropped but there are upcoming node changes.

    On 26 October, BNB Chain announced that it has fixed a date for the Fermat hard fork testnet. According to BNB Chain, which is a cross-chain smart contract protocol, the event is billed to happen on 3 November between 14:00 – 14:15 UTC+8 at block height 12113000.


    Realistic or not, here’s BNB’s market cap in OP terms


    For context, a hard fork refers to a change in the protocol of a blockchain network that requires users and developers to upgrade to the latest version of the software.

    In some cases, a hard fork leads to the splitting of a cryptocurrency. One popular example is the Bitcoin [BTC] hard fork that resulted in the development of Bitcoin Cash [BCH].

    To clear the way for transactions and data

    For BNB Chain, the Fermat hard fork would pave the way for interoperability between opBNB and BNB Greenfield. In simpler terms, the upgrade would enable the reduction of L1 gas fees for L2 transactions.

    In April, BNB Chain launched the Greenfield testnet to improve data storage and ownership on the protocol. opBNB was also developed using the Optimism [OP] Stack to enable faster and cheaper transactions on the BNB Chain.

    From Token Terminal’s data, the number of core developers on the BNB Chain has reduced from the count in the last 180 days. At press time, the core developers on the chain were 42. This decrease implies that the dedication by developers to improving the network was relatively low.

    Meanwhile, the Transactions Per Seconds (TPS) on the network has improved. With a TPS of 39, one could conclude that the opBNB was having a positive effect on activity within the BNB Chain.

    Source: Token Terminal

    Take note of these steps 

    BNB Chain also gave clear instructions that developers and users may need to follow religiously in preparation for the Fermat testnet. According to the blog post posted by the protocol, the BNB community developers need to upgrade their nodes to opNode v0.2.0 and opGeth v0.2.0 before the hard fork time. 

    By definition, a node is a computer network responsible for keeping a blockchain network running. Each node is a separate computer built to store information on the blockchain while acting as a distributed ledger. BNB Chain noted that the action was important because,

    “The upgrade will ensure that their nodes are compatible with the new pre-compiled contracts and that they can continue to operate smoothly after the hard fork.”

    The disclosure also explained the benefits of upgrading to opNode v0.2.0 and opGeth v0.2.0. 


    How much are 1,10,100 BNBs worth today?


    With respect to opNode v0.2.0, BNB Chain noted that the fixed L1 gas would increase to 3Gwei. In testnet mode, gas can hit a maximum of 5 Gwei.

    Gwie is a unit of Ethereum [ETH] used to specify gas prices. On the other hand, opGeth v0.2.0 would enable two new precompiled contracts to verify signatures in smart contracts and validate light blocks.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Comment on XRP ETF Race Heats Up As SEC Reviews Filings by BONK Memecoin Pumps Over 16% amid ETF-Driven Interest

    July 3, 2025

    Arizona Governor Hobbs Vetoes Digital Asset Reserve Bill, Stalling State Crypto Agenda

    July 2, 2025

    XRP ETF buzz boosts XYZVerse presale momentum as investors eye a potential breakout

    July 1, 2025

    Comment on Metaplanet Joins Top 5 Bitcoin Holders With 13,350 BTC as Stock Surges 10% by Hiko Arnold

    June 30, 2025
    Top Posts

    Bitcoin Whales Accumulate Over $2,300,000,000 in BTC As Price Consolidates: Santiment

    May 18, 2023

    Game-Changing Mutuum Finance (MUTM) Targets Cardano’s (ADA) Position As $0.3 Warning Signs Show

    April 4, 2025

    Is Bitcoin heading towards an uncertain future?

    October 5, 2023

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    Bitcoin Makes History With Highest Monthly Close, But Volume Is Still Bearish

    July 3, 2025

    Dow, S&P 500, Nasdaq mixed as investors weigh tariff talks

    July 1, 2025

    Saylor Strikes Again: Strategy Bags Another 4,980 Bitcoin in Latest Buying Spree

    June 30, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.