- EIP-7702 enables gasless transactions, batch approvals, and simplified Web3 onboarding; testnet integration finalized on February 25.
- CZ discloses 114,000-word manuscript draft penned during legal hiatus, requiring extensive revisions before potential publication.
Changpeng Zhao (CZ) confirmed via X that BNB Chain will undergo three protocol upgrades in 2024, starting with the Pascal hard fork on March 20. Two additional upgrades—Lorentz and Maxwell—are scheduled for April and June, targeting reduced block finality times and improved network efficiency.
The Pascal upgrade integrates Ethereum Improvement Proposal (EIP) 7702, enabling smart contract wallets to temporarily function as externally owned accounts (EOAs). This enhances compatibility with Ethereum Virtual Machine (EVM) standards and expands decentralized application (dApp) development flexibility.
The testnet integration concluded successfully on February 25, with mainnet activation set for March 20 at 02:10 UTC. Node operators, validators, and exchanges must upgrade to client version v1.5.7 before the deadline to avoid syncing disruptions.
EIP-7702 introduces gas-free transaction delegation, batch approvals, and simplified Web3 onboarding. Subsequent upgrades will optimize block production intervals: Lorentz reduces block time to 1.5 seconds, while Maxwell further shortens it to 0.75 seconds, aiming for higher transaction throughput.
CZ Discloses Progress on Unpublished Manuscript
CZ separately revealed he drafted a 114,000-word manuscript during his legal hiatus, describing the process as a “self brain dump.” He noted revisions could require triple the initial effort but provided no release timeline or thematic details.
The BNB Chain upgrades align with broader industry efforts to refine layer-1 scalability. By reducing block times and enhancing EVM interoperability, developers aim to attract Ethereum-native projects seeking lower fees and faster settlements. Node operators are advised to monitor official channels for upgrade guidelines to maintain network participation post-March 20.
As of today, Binance Coin (BNB) is trading at $592.31, showing a 0.13% decline in the last 24 hours. Over the past week, BNB has dropped by 2.56%, but in the last month, it has gained 3.62%. Despite its recent short-term dip, BNB remains up 21.94% year-over-year, demonstrating strong resilience compared to many other altcoins. However, its year-to-date performance is down by 15.65%, indicating that it has struggled to maintain its bullish momentum in 2024.
Currently, BNB is facing resistance around the $600 level, which was recently broken due to strong selling pressure. If it fails to regain this level, a further decline towards $570 or even $550 is possible. ETHNews analysts suggest that if bulls regain control, BNB could push toward $620-$650 in the coming weeks. The upcoming Pascal hard fork, scheduled for March, is expected to improve BNB Chain’s performance, potentially boosting investor sentiment.
