BNB Chain's Maxwell Hardfork Cuts Block Time 50%

BNB Chain has successfully implemented its latest upgrade, the Maxwell Hardfork, which has significantly reduced block time on the network by 50%. The update was finalized on Monday and is considered a major technical advancement for the network. The new upgrade aims to increase block production speed, enhance network performance, and improve validator coordination through several key updates.

The Maxwell Hardfork introduces three major upgrades: BEP-524, which reduces block time to 0.75 seconds; BEP-563, which enhances validator network messaging; and BEP-564, which introduces smarter block-fetching logic. With block times now at 0.75 seconds, users can expect faster experiences with decentralized applications becoming more responsive and real-time apps having less latency. This reduction in block times has been a central focus of BNB Chain upgrades for years, with the Lorentz hardfork previously cutting down block time from 3 seconds to 1.5 seconds.

The upgrade also improves validator messaging to match the faster block speed, ensuring that validators can quickly reach a consensus. This update reduces the risk of missed votes or delayed proposals. The improved block fetching due to BEP-564 means that the message structure for sharing block data among nodes is more efficient, preserving the BNB Chain’s smooth performance even under pressure by reducing latency and improving syncing.

Additionally, the upgrade adjusted other network parameters, including epoch length, which increased from 500 to 1000. TurnLength also doubled to 16 blocks from 8 blocks, while fast finality can now happen in around 1.875 seconds. With the upgrade affecting network speed, major network participants, including developers and validators, are required to implement changes. App builders must change their assumptions to reflect the 0.75 seconds block time, while validators and node operators must prepare their infrastructure for the improved performance.

The Maxwell Hardfork comes amidst a surge in BNB on-chain activity, particularly in its decentralized exchange (DEX) volume. For weeks, the network has dominated DEX’s market share, dwarfing other networks. The surge in activity on BNB Chain is mostly due to the Binance Alpha program, but the recent improvements, particularly the Lorentz hardfork, have enabled the network to achieve efficiency and performance, driving adoption and user growth.

The surge in activity on the BNB Chain, coupled with recent developments on the network, is positively impacting the native token. The token has seen slight gains despite the muted performance of other major cap cryptocurrencies. At the current price, the token is down more than 7% year-to-date. However, it is still one of the best-performing major cap altcoins in a market where altcoins have generally struggled.