Following the multi-million dollar bridge breach last week, BNB Smart Chain successfully launched an improved version of its network, eliminating a number of cross-chain concerns.
IMPORTANT UPDATE: BNB Smart Chain v1.1.16 has arrived. https://t.co/3lBZV4GGiu
— BNB Chain (@BNBCHAIN) October 12, 2022
On Wednesday, BNB Chain said that any appropriate assets blocked in cross-chain transfers should now have reached the user’s target wallet or source. The BNB Beacon Chain and BNB Smart Chain transfers are now operating as normal.
The upgrade, according to Binance, had no impact on the exchange’s trading of Binance Smart Chain tokens, but it did necessitate a temporary halt to deposits and withdrawals of those tokens.
The “Moran hard fork” patch release, which restored cross-chain capability between the BNB Beacon Chain and the Binance Smart Chain, was referred to as “temporary”.
BNB Beacon Chain was released in April 2019 to add support for scalable crypto transfers such as BNB and other currencies. The following year saw the launch of Binance Smart Chain, which aims to incorporate smart contracts and decentralized applications (dApps) into the Binance ecosystem.
Many of the cross-chain transfers between each chain were “queued,” but they “arrive in the target wallets or get refunded back to the source,” said BNB Chain’s chief scientist “V” on Twitter. By 0:00:00 UTC on October 13, any postponed staking rewards that BNB users have collected must be distributed.
The network’s core cross-chain proof verification will be upgraded, and additional security precautions will be added to the cross-chain system over the coming weeks.
