**Exciting Developments for BNB Chain: EIP-7702 Brings Gasless Transactions and More!**
Great news for the BNB Chain community! The integration of Ethereum Improvement Proposal (EIP) 7702 is set to revolutionize the way we interact with decentralized applications (dApps) by enabling gasless transactions, batch approvals, and a smoother onboarding experience for Web3 users. The testnet integration was successfully completed on February 25, paving the way for the mainnet activation scheduled for March 20 at 02:10 UTC.
Changpeng Zhao (CZ) recently shared on X that BNB Chain will see three exciting protocol upgrades in 2024, kicking off with the Pascal hard fork. This upgrade will allow smart contract wallets to temporarily act as externally owned accounts (EOAs), enhancing compatibility with Ethereum Virtual Machine (EVM) standards and providing developers with greater flexibility in dApp development.
Following Pascal, two more upgrades—Lorentz and Maxwell—are on the horizon, set for April and June. These upgrades aim to reduce block finality times and boost network efficiency. Specifically, Lorentz will cut block time down to 1.5 seconds, while Maxwell will take it even further to just 0.75 seconds, significantly increasing transaction throughput.
In a separate update, CZ revealed that he has been busy drafting a 114,000-word manuscript during his legal hiatus, describing it as a “self brain dump.” While he mentioned that the revisions could take three times the initial effort, he hasn’t provided a timeline for publication or details about the content.
The upcoming BNB Chain upgrades are part of a broader industry trend focused on enhancing layer-1 scalability. By improving block times and EVM interoperability, the goal is to attract Ethereum-native projects looking for lower fees and quicker settlements. Node operators, validators, and exchanges are encouraged to upgrade to client version v1.5.7 before the March 20 deadline to ensure seamless network participation.
As of today, Binance Coin (BNB) is trading at $592.31, reflecting a slight decline of 0.13% in the last 24 hours. Over the past week, BNB has seen a drop of 2.56%, but it has gained 3.62% over the last month. Year-over-year, BNB is up 21.94%, showcasing its resilience compared to many other altcoins. However, it has faced challenges in maintaining bullish momentum in 2024, with a year-to-date decline of 15.65%. Currently, BNB is encountering resistance around the $600 mark, which was recently breached due to selling pressure. If it struggles to reclaim this level, we might see a dip towards $570 or even $550. On a positive note, ETHNews analysts believe that if the bulls regain control, BNB could potentially rise to the $620-$650 range in the coming weeks. The anticipated Pascal hard fork in March is expected to enhance BNB Chain’s performance, making it an exciting time for the community!
