On November 30, around 11:00 Moscow time, the Bruno hard fork is scheduled to take place on the Binance Smart Chain (BSC) at block 13,082,000. Deposits and withdrawals will be suspended from approximately 10:45 Moscow time.
#Binance will support the Binance Smart Chain #BSC network upgrade and hard fork.https://t.co/BhKPAUwunG
— Binance (@binance) November 29, 2021
One of the upgrade’s aims is to accelerate full node synchronization by more than 60%. It envisions deploying the BEP-95 proposal with a mechanism for burning BNB tokens, similar to the Ethereum blockchain.
On December 1, the Bruno hard fork was activated on the Binance Smart Chain at block 13,082,000.
BEP95 real-time #BNB burning mechanism has been activated!
Each block will burn a fixed ratio of the gas fee collected by the validators in each block. The burning ratio is adjustable through governance (currently 10%).
https://t.co/sPNjVfaCXnDetails: https://t.co/GNFfn8IM98
— Binance Smart Chain (@BinanceChain) December 1, 2021
According to the developers, this will make the network more decentralized and increase the intrinsic value of BNB in the long term.
The solution envisages burning a fixed portion of gas in each block. Validators can adjust the coefficient, which defaults to 10%.
Representatives of the exchange stressed that trading of BNB and other tokens available on the BSC will not be affected during the upgrade.
«We will reopen deposits and withdrawals as soon as we deem the network stable.»
In October, Binance established a $1 billion fund to develop and support the BSC ecosystem.
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