BNB Chain Pushes New Update to Revive Network Activity

• BNB Chain is the second largest blockchain by daily active users, but its network activity has been declining for months.
• BNB Chain recently posted its weekly report highlighting the blockchain’s statistics, which also pointed out the drop in network activity.
• BNB Chain is pushing a new update for its Greenfield testnet, adding features such as a fresh pricing model and support for storage provider exit.

BNB Chain’s Declining Network Activity

BNB Chain [BNB] continues to remain the second largest blockchain by daily active users. However, over the past few months, the numbers have registered a drop, meaning that the blockchain’s network activity has declined. BNB recently posted its weekly report highlighting the blockchain’s statistics, which also pointed out the drop in network activity. Artemis’ data pointed out that BNB Chain’s key metrics have been on a declining trend for multiple weeks now with both BNB ’s daily active addresses and transactions falling under 1 million and 3 million marks respectively.

New Update For Greenfield Testnet

Nonetheless, the blockchain has planned a new update that can turn the situation in BNB’s favor. The new update is being pushed to its Greenfield testnet and will bring along a few new features to enhance user experience such as a fresh pricing model and support for storage provider exit. Bucket migration will also be supported with this update which makes it easier for users to transfer their data from one provider to another without any hassle.

Timeline Of The Update

The new update is set to be released on 31 August adding more value to the platform along with other improvements and bug fixes. The development team of BNB seems confident about this move as they believe that this upgrade will help make their product better than ever before.

How It Can Help?

The upgrade can benefit both developers and users alike as developers can take advantage of improved scalability while users can enjoy faster transaction times at lower costs due to reduced fees associated with smart contract deployment on BNB chain platform after this upgrade takes effect. This could eventually lead to an increase in overall usage of this platform if implemented properly and attract more people towards it in long term perspective resulting into increased profitability for investors who are already part of this project or planing to join soon afterwards.

Conclusion

Overall, BNB’s upcoming upgrade looks promising as it aims at tackling some of major issues faced by users currently such as high transaction costs and slow processing times while introducing some interesting features like bucket migration which could prove beneficial in near future if all goes according planed out by developers behind greenfield project of this blockchain technology based company called “BNB Chain“.