In recent months, the Binance crypto platform has suffered numerous criticisms, pointing to security flaws. As a result, the company is constantly increasing its efforts to strengthen the security of its platform.
ZhangHeng Hard Fork to Strengthen Binance’s BNB Beacon Blockchain
On Wednesday, July 19, Binance is expected to deploy a hard fork called ZhangHeng. This is’an operational update dedicated to the BNB Beacon blockchain. The latter is in fact the denomination attributed since last year to the Binance Chain.
BNB Beacon is typically designed to operationalize trading activities in a rapid and decentralized manner. Binance’s ambition through this update is to concretely strengthen the security of this network.
This goal cannot be achieved without adding new features to the blockchain. The announced hard fork should therefore introduce a number of them. Among these, the possibility for the blockchain to prevent the production of new blocks under specific conditions.
This functionality pursues a particular goal: that of protecting the blockchain, in the event of difficulties or potential exploits. This device should be reinforced by Binance’s BEP-255 evolution proposal.
This mechanism specifically provides for the rigorous monitoring of changes in the balance of users’ wallets. An activity that would serve to identify any discrepancies and inconsistencies.
In fact, this measure takes into account the need to improve safety following a previous bridge operation incident. The hard fork will thus fix bugs relating to dishonest key attacks. To do this, validators will be forced to update their software versions, which will erase all existing voting addresses.
Furthermore, the hard fork should improve the blockchain’s ability to handle complex business rules and logic. To this effect, node operators will receive guidelines to comply with the hard fork upgrade.
The latter represents another step in Binance’s network security hardening efforts. A step forward that does not sacrifice the development of the company’s blockchain capabilities.
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