Binance has pulled a new trick out of its bag as it plans to introduce a real-time burning mechanism, Binance Evolution Protocol, BEP-95, to its Binance Smart Chain (BSC) network. This was announced via a press statement issued by the largest crypto exchange by trading volume recently.
Binance proposed BEP-95 upgrade
According to the released statement, the new BEP-95 will lead to the BSC network being more decentralized as it would drastically increase the burning speed of BNB, its native token.
This new mechanism would burn some BNB for every transaction that is carried out on the network and it is also capped to a maximum of 100 million BNB which is half of the total supply of the token itself.
The abstract behind this BEP is to speed up the burning process of BNB and make BSC more decentralized, as part of the gas fee will be burned. The BEP-95 burn is solely dependent on the activity on the BSC network, and it will continue functioning (decreasing BNB supply), even after the sched
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