Binance the biggest cryptocurrency exchange token BNB is now going to be burned with every transaction.
BNB is currently trading up 3.42% and one coin price is $627.47.
The reason for the increase in price is BSC Bruno Upgrade v1.1.5 and the burning of 500 BNB Coins ($315,690 USD) since the BEP-95 real-time burn upgrade.
The official Binance Twitter handle just confirmed the update via tweet, which states:
“Today the #BSC Bruno Upgrade v1.1.5 occurred.
Key changes:
- New real-time burning mechanism of BNB.
- Full node sync speed increase (60%+).
- A fixed ratio of the BNB gas fee collected by the validators will be burned in each block.
Today the #BSC Bruno Upgrade v1.1.5 occurred.
Key changes:
?New real-time burning mechanism of #BNB
?Full node sync speed increase (60%+)?A fixed ratio of the #BNB gas fee collected by the validators will be burned in each block?
Learn more⬇️https://t.co/kiVzhPBzZa
— Binance (@binance) November 30, 2021
Binance has shared all the details related to Bruno Upgrade v1.1.5 via posting blogpost on their official website.
This hard fork introduces a real-time burning mechanism into the economic model of BSC with the aim to introduce a new burning process of BNB and speed up the full node sync by more than 60%. This upgrade introduces the previously announced BEP-95 with a real-time burning mechanism.