Binance has successfully completed a Bruno network upgrade that will include token burning on every transaction.
The hard fork increased the speed of full synchronization of nodes in the network by 60%. It also implements the BEP-95 protocol, ensuring that the network burns a fixed share of transaction fees.
Daily burn volume is estimated to range from 577 to 1,728 BNB. A reduction in the circulating supply of BNB should cause the price to rise.
The mechanism is similar to the EIP-1559 Ethereum network. Since the hard fork London was implemented, more than 1 million ETH tokens have been burned on the network. This caused Ethereum prices to rise.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Apple Veteran Joins Civic's Decentralized Identity Platform
Blockchain startup Civic has hired former Apple executive Philip Shoemaker as chief executive of Identity.com. Shoemaker will be responsible for the growth and development of this blockchain platform, the company said.
The Japanese will vote on the blockchain
According to local media reports, in order to modernize existing voting systems, Japanese authorities have introduced a blockchain voting system in the city of Tsukuba, Ibaraki Prefecture. Japan was one of the first countries to decide to develop and test blockchain technology, but this is the first time that the technology has been used for such purposes.
