The Long-awaited Major Update for BNB Has Arrived! Here's What's Changed

BNB Chain announced that it has set the minimum gas fee on its BNB Smart Chain (BSC) to 0.05 ￰0￱ update reduces the transaction cost on the network to approximately $0.005. The official announcement stated that all BSC validators and developers have adopted the new gas price and the network is ready to accept transactions at this ￰1￱ Chain argued that this step would provide faster and cheaper transactions for users, offer wider innovation space for developers, and increase the competitiveness of the ￰2￱ network team also stated that wallets, centralized exchanges (CEX), and trading platforms should also adapt to the 0.05 Gwei ￰3￱ Zhao (CZ), founder of cryptocurrency exchange Binance, recently proposed cutting gas fees in ￰4￱ community and validators mobilized after this proposal, bringing it to life.

Meanwhile, BNB remains above $1,000, has gained around 20% in the past month, and is trading 5.4% lower than its record high. *This is not investment ￰5￱ Reading: The Long-awaited Major Update for BNB Has Arrived! Here's What's Changed