Binance Coin (BNB) to Implement the Pascal Hardfork, Introducing EIP-7702 to Its Mainnet on March 20th

Binance Coin is set to implement the Pascal Hardfork, introducing EIP-7702 to its mainnet on March 20th. This update represents a significant change in transaction processing on the BNB Chain.

Binance Coin (BNB) will undergo the Pascal Hardfork on March 20th, introducing EIP-7702 to its mainnet. This update marks a substantial change in how transactions are processed on the BNB Chain.

What is the Pascal Hardfork?

The Pascal Hardfork is a planned upgrade to the Binance Chain, which will introduce several new features and improvements. One of the most significant changes is the integration of EIP-7702 into the BNB Chain. This will enable smart contracts on the BNB Smart Chain to process transactions more efficiently and effectively.

When will the Pascal Hardfork occur?

The Pascal Hardfork is scheduled to take place on March 20th at block height 15,379,480 of the BNB Beacon Chain. This corresponds to approximately 03:00 UTC on March 20th.

What is Binance Coin used for?

Binance Coin is the native cryptocurrency of the Binance exchange and the BNB Chain ecosystem, which comprises the BNB Beacon Chain and BNB Smart Chain. It serves several key functions:

It is used to reduce trading fees on the Binance exchange.

It is used to pay for transaction fees on both the BNB Beacon Chain and BNB Smart Chain.

It is utilized in various games and Decentralized Applications (DApps) within the BNB Chain ecosystem.

It is employed to participate in token sales hosted on the Binance Launchpad and provide liquidity on Binance Liquid Swap.

Moreover, BNB can be applied for real-world use cases, including online and in-store purchases, as well as travel bookings through platforms like Travala.com.

What are the three types of Binance Coin?

Following the launch of the BNB Smart Chain in September 2020, Binance Coin exists in three forms:

BNB BEP-2: This is the original form of Binance Coin and exists on the BNB Beacon Chain. It is used to pay for transaction fees and other services on the BNB Beacon Chain.

BNB BEP-20: This is a tokenized version of Binance Coin that exists on the BNB Smart Chain. It is compatible with the BEP-20 standard, which is the most widely used token standard on the BNB Smart Chain.

BNB ERC-20: This is a tokenized version of Binance Coin that exists on the Ethereum network and is compatible with the ERC-20 standard. It allows Binance Coin to be used in Ethereum-based DApps and protocols.