June 8, 2023

If you thought Binance’s BNB smart chain was fast, you are about to be in for a pleasant surprise. Grid had just received an important upgrade that would increase its speed and efficiency.

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Binance has not been left behind this season when several blockchains rolled out major network upgrades. The BNB smart chain received its performance upgrade this week with the v1.1.12 upgrade release. According to an official announcement, the upgrade will not only improve speeds, but also reduce the requirements for lower hardware.

“It turns out that the fast node can slow down the storage growth by 60%~90% according to different settings and increase the synchronization efficiency by about 30%,” advertiser Binance through a press release.

The upgrade took place days before the most anticipated development in the crypto industry – the integration of Ethereum 2.0. The announcement did not mention any readiness adjustments for ETH 2.0. However, it did highlight some changes to the Go-Ethereum code base.

The potential impact on BNB

Upgrading the BNB smart chain may not have a direct and direct impact on the demand or performance of BNB. However, efficiency improvements may help the network remain competitive and support an improved user experience.

One possible effect of a faster performance of the BNB smart chain is the interest rate of BNB. Network speed is currently at its lowest monthly level, but this metric may receive a boost with a higher level of network efficiency.

Source: Santiment

Another possible consequence of faster transactions is the improvement in BSC’s daily rolling stock. This will appear as a noticeable change in network trading – NVT.

The latter showed significant fluctuations in the last 30 days, but remained within the same range. Hence, emphasize healthy activity.

Source: Santiment

BNB is trading at $283 at the time of writing, which is 42% off ATH.

In many ways, this represented a relatively small drop, compared to most major coins. What this means is that it has managed to hold its value well. This, in large part, is due to the powerful tool and the demand drawn from the network.

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