BNB Chain launched the Pascal Hardfork on March 20, representing an upgrade aimed at enhancing transaction performance and improving compatibility with the Ethereum Virtual Machine (EVM).
This enhancement incorporates Ethereum Improvement Proposal (EIP) 7702, which introduces sophisticated features such as gas abstraction, smart contract wallets, and batch transactions.
Pascal Hardfork
The Pascal Hardfork signifies a significant advancement in the network’s evolution, establishing it as an early adopter of this vital EVM upgrade.
A standout aspect of EIP-7702 is the adoption of smart contract wallets, which serve temporarily as smart contracts. This enables gasless transactions, batch approvals, and streamlined asset exchanges.
The upgrade is also anticipated to enhance user onboarding and afford greater flexibility for dApp developers.
In anticipation of the upgrade, the blockchain has recommended that node operators, validators, exchanges, and infrastructure providers update their systems. Failing to make this update could lead to nodes becoming out of sync post-hard fork.
Simultaneously, crypto exchanges and infrastructure providers are expected to verify compatibility, while developers must ensure their dApps are adjusted to accommodate the new transaction framework.
Looking beyond Pascal, BNB Chain has additional enhancements planned. The Lorentz Hardfork, set for April 2025, aims to reduce block times to 1.5 seconds, improving network efficiency.
Then, in June 2025, the Maxwell Hardfork will further cut block processing times to 0.75 seconds, resulting in even quicker transactions.
BNB Chain’s growth
This upgrade comes at a time when decentralized exchange (DEX) activity on the BNB Chain is booming.
Data from DeFiLlama shows that BNB Chain reported $2.13 billion in DEX transactions in the last 24 hours, surpassing Ethereum’s $1.75 billion and Solana’s $1.48 billion.
Additionally, weekly trading volume on BNB Chain has surged nearly 60%, hitting $13.56 billion. This uptick stands in stark contrast to competing networks, which have experienced declines of about 40% during the same timeframe.
A significant portion of this activity is driven by the rising interest in memecoins like Mubarak, which have stimulated trading on PancakeSwap. The network’s main DEX facilitated $2.56 billion in transactions over the last day, nearly twice the total volume of Uniswap during the same time.
