Binance Coin has announced the upcoming BSC Lorentz mainnet hard fork, scheduled for April 29th at 05:05 am UTC. The hard fork aims to reduce block time to 1.5 seconds, thereby cutting latency, speeding up confirmations, and improving user experience across the network.
Refer to the official tweet by BNB:
Just 8 days left until the BSC Lorentz mainnet hardfork.
The official BSC mainnet hardfork is scheduled at 05:05 AM, April 29 (UTC).
BSC is reducing block time to 1.5 seconds—cutting latency, speeding up confirmations, and improving UX across the board.
This will affect… pic.twitter.com/qSIBIxscIq
BNB Info
BNB is the native coin that powers the BNB Chain ecosystem, including the BNB Beacon Chain and BNB Smart Chain. It serves several functions, such as reducing trading fees on the Binance exchange, paying for transaction fees on both the BNB Beacon Chain and BNB Smart Chain, and being utilized in games and DApps within the BNB Chain ecosystem. It’s also employed to participate in token sales hosted on the Binance Launchpad and provide liquidity on Binance Liquid Swap. Furthermore, BNB can be used for real-world applications, including online and in-store purchases and travel bookings on platforms like Travala.com.
As of September 2020, with the launch of the BNB Smart Chain, BNB can exist in three forms: BNB BEP-2 on the BNB Beacon Chain, BNB BEP-20 on the BNB Smart Chain, and BNB ERC-20 on the Ethereum network.
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