Band Protocol to Deliver 10X Throughput With BandChain V2.4 Upgrade

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Blockchain
Band Protocol to Deliver 10X Throughput With BandChain V2.4 Upgrade

Popular cross-chain data oracle, Band Protocol, has announced the upcoming upgrade of its BandChain V2.4 to feature huge benefits for users.

Band Protocol Set to Upgrade BandChain V2.4

Band Protocol, a renowned decentralized data oracle connecting world data to the Blockchain ecosystem, has announced an imminent upgrade to its BandChain V2.4. In a blog post on Medium yesterday 25th of October, Band Protocol revealed that the V2.4 upgrade would feature 10X throughput alongside many other significant benefits.

While updating its audience on the new development, Band Protocol stated that the latest BandChain V2.4 upgrade would introduce significant changes to several things, one of which is how gas is calculated on the BandChain. The tech brand has promised improved user experience and throughput time on its network with the upgrade.

Although, as of press time, there is no known date for the launch of the upgrade, the upcoming upgrade marks a third achievement for the leading Web3 firm in the month of October.  Just last week, Brand protocol launched the Laozi-testnet-6, and shortly after, it enabled the latest IBC version on its network

10X Improved Throughput time

In addition to several other benefits with the BandChain V2.4 upgrade, the new version comes with a new optimal throughput over 10X of the previous version. This equates to a throughput speed of 2–3 times faster than the upgrade industry average.

This groundbreaking feature will result from minimizing the required gas use, as Band Protocol promises to “decrease the required work range threshold when calculating the required gas for a particular work.” According to the blog post, the tech firm claims to be “able to reduce the time taken to run the same task from the worst case scenario of 0.4 seconds to 0.03 seconds”.

The improved throughput time also comes with an increased block gas limit

More Advantages of the BandChain V2.4 Upgrade

Band Protocol’s upgraded BandChain will feature the new Metering Middleware from Wasmer, a fast and secure WebAssembly runtime, to calculate gas consumption instead of using the ‘inject gas’ technique. According to the press release, this transition will allow the OS to effectively calculate gas usage in a more methodical and structurally sound manner. 

This is a major improvement to the previous version, in which Owasm utilized the ‘inject gas’ technique to calculate the amount of gas used to run a Wasm script. With this technique, an Oracle Script (OS) inputs a gas consumption function into the Wasm code; no inherent mechanism can be used to calculate gas innately in the OS itself. Although this system is secure, the workaround technique greatly reduced the efficiency of the operations of the BandChain.

The new metering middleware offers four significant benefits, one of which is more streamlined code interaction, as the Middleware is on the same level as Owasm code. There will also be total elimination of any risk to modifications of the Wasm code as well as customizable Metering Middleware that allows for a more flexible gas consumption calculation and, ultimately, a much faster network.