Changpeng Zhao, the former CEO of Binance, announced a major upgrade to the BNB Chain set to launch later this month. The Pascal Hardfork, scheduled for March 20, is expected to enhance the blockchain’s functionality, including increased Ethereum Virtual Machine (EVM) compatibility and smart contract improvements. The update comes as part of a broader effort to position BNB Chain as a leading player in the evolving decentralized finance (DeFi) space.
The announcement, made via social media, has drawn significant attention from developers, validators, and cryptocurrency exchanges. “This makes it [BNB Chain] one of the earliest chains to adopt this EVM upgrade,” BNB Chain stated in a post on X. He also had this update.
The upgrade, which integrates Ethereum’s EIP-7702 proposal, will enable wallets to function as smart contracts, unlocking features such as gasless transactions and batch approvals.
BNB Chain Races to Implement EIP-7702
The Pascal Hardfork builds on Ethereum’s recent Pectra upgrade and positions BNB Chain as an early adopter of EIP-7702. This upgrade will allow externally owned accounts (EOAs) to execute smart contract code temporarily, improving user experience and developer flexibility. The changes aim to lower transaction costs and streamline decentralized application (dApp) interactions.
BNB Chain reported that the EIP-7702 integration was successfully tested on the network’s testnet, with the upgrade finalized on February 25. Now, the focus shifts to the mainnet deployment. BNB Chain emphasized that node operators and validators must update to v1.5.7 before March 20 at 02:10 AM UTC to avoid desynchronization. Exchanges and infrastructure providers will also need to comply with the new software requirements to maintain smooth operations.
The update is expected to significantly improve onboarding for new Web3 users. “Gasless transactions via payments. Batch approvals & swaps in one click. Easier onboarding for users new to Web3,” BNB Chain stated in its announcement.
Validators Face Critical Deadline
For the Pascal Hardfork to succeed, validators must meet the upgrade deadline. Failure to do so could result in nodes falling out of sync, leading to transaction failures and potential disruptions in the network’s functionality. As of now, it remains unclear how many validators have completed the upgrade, but BNB Chain has stressed the importance of timely compliance.
The implementation of EIP-7702 is expected to provide BNB Chain with a competitive edge over other EVM-compatible networks. The ability to execute smart contract functions directly from wallets offers a streamlined alternative to Ethereum’s current gas-fee model, which has long been criticized for high costs during network congestion.
The Pascal Hardfork is only the first in a series of planned upgrades to BNB Chain. Following Pascal, two more hardforks—Lorentz and Maxwell—are scheduled for later this year. Lorentz, set for April, will reduce block generation times to 1.5 seconds. Maxwell, expected in June, will further accelerate transactions, bringing block times down to 0.75 seconds.
A user on X noted the aggressive timeline, stating, “Lorentz at 1.5s blocks? Solana already does 0.4s. But Maxwell at 0.75s… BNB’s roadmap is evolution on crack.” The speed enhancements align with BNB Chain’s broader strategy of improving efficiency in decentralized finance and artificial intelligence applications.
Despite the significance of the Pascal Hardfork, BNB’s price has remained relatively stable. The altcoin has shown resilience compared to other major cryptocurrencies, gaining 2% over the past month, while Bitcoin, Ethereum, and Solana recorded double-digit losses.
