BNB Chain recently implemented the Pascal Hardfork on March 20, a significant upgrade aimed at enhancing transaction efficiency and aligning the network with the Ethereum Virtual Machine (EVM).
This update incorporates Ethereum Improvement Proposal (EIP) 7702, introducing advanced features such as gas abstraction, smart contract wallets, and batch transactions.
Pascal Hardfork
The Pascal Hardfork represents a major milestone in the evolution of the network, positioning it as an early adopter of this crucial EVM enhancement.
One key aspect of EIP-7702 is the introduction of smart contract wallets, which temporarily operate as smart contracts. This enables gasless transactions, batch approvals, and smoother asset exchanges.
Furthermore, the upgrade is expected to streamline user onboarding processes and offer increased flexibility for dApp developers.
Prior to the implementation of the hard fork, Binance-backed BNB Chain has advised node operators, validators, exchanges, and infrastructure providers to update their systems to avoid synchronization issues post-upgrade.
Additionally, crypto exchanges and infrastructure providers are urged to ensure compatibility, while developers need to align their dApps with the new transaction framework.
Looking ahead, BNB Chain has further enhancements planned. The Lorentz Hardfork, scheduled for April 2025, aims to reduce block times to 1.5 seconds, enhancing network speed.
In June 2025, the Maxwell Hardfork will further reduce block processing times to 0.75 seconds, further accelerating transaction speeds.
BNB Chain’s Growth
The upgrade comes at a time when decentralized exchange (DEX) activity on BNB Chain is experiencing significant growth.
According to DeFiLlama, BNB Chain recorded $2.13 billion in DEX transactions in the last 24 hours, surpassing Ethereum’s $1.75 billion and Solana’s $1.48 billion.
Moreover, weekly trading volume on BNB Chain has surged by nearly 60%, reaching $13.56 billion. This uptick contrasts with other networks, which have seen declines of approximately 40% during the same period.
Much of this momentum can be attributed to the increasing popularity of memecoins like Mubarak, driving trading activity on PancakeSwap. The primary DEX on the network facilitated $2.56 billion in transactions in the past day, almost double the total volume of Uniswap during the same timeframe.