Sunset Fork: Overture to BNB Chain Convergence
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Sunset Fork: Overture to BNB Chain Convergence
It's time to take the next step: migrating Beacon Chain's functionality to BSC and retiring the Beacon Chain.
Navigating Web3 tides with focused insightsOverview
The BNB Beacon Chain is a blockchain developed by the BNB Chain community to realize the vision of a decentralized exchange (DEX) for digital assets. In addition, the Beacon Chain and BSC form a dual-chain architecture: the Beacon Chain enhances the security of BSC as a staking and governance layer. With the rise of various other forms of DEXs, order-book-based decentralized exchanges were retired following the deprecation of BEP151. As BSC rapidly evolves, the Beacon Chain has become a burden. The cross-chain bridge connecting the two chains slows down development iteration and constantly exposes BNB to certain security vulnerabilities. It's time to move forward—migrating the Beacon Chain's functionalities to BSC and retiring the Beacon Chain.
The sunset process will occur in several phases:
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First Sunset Fork – Certain types of Beacon Chain transactions will be disabled, such as TimeLockMsg, TimeRelockMsg, FreezeMsg, IssueMsg, MintMsg, IssueMiniMsg, HTLTMsg, DepositHTLTMsg, MsgCreateValidatorOpen, MsgCreateSideChainValidator, MsgCreateSideChainValidatorWithVoteAddr, MsgEditSideChainValidatorWithVoteAddr, MsgSideChainDelegate, MsgSideChainReDelegate. (Expected mainnet launch: February 2024)
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BSC Feynman Hard Fork – Native validators and staking, along with native governance, will be enabled on BNB Smart Chain. BSC validators/delegators can begin migration after the Feynman upgrade. (Expected mainnet launch: April 2024)
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Second Sunset Fork – More Beacon Chain transactions will be disabled, such as MsgSideChainSubmitProposal. All TimeLock and AtomicSwap assets will be automatically refunded to users’ wallets. All BSC delegations will be automatically undelegated. (Expected mainnet launch: June 2024)
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Final Sunset Fork – Cross-chain communication between the Beacon Chain and BSC will completely cease. (Expected mainnet launch: June 2024)
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Post-BC Fusion – The Beacon Chain will be dumped, and a Merkle tree will be generated to facilitate asset recovery for those bound to BSC but not yet transferred over.
All stakeholders (such as token holders/owners, validators, and project teams) should monitor announcements on the BNB Chain blog and take proactive actions accordingly.
For more information about the BNB Chain fusion, please refer to BEP-333.
For the roadmap and milestones of the BNB Chain fusion, please refer to the blog.
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