The latest hard fork could be set to have a huge impact on BSC and the BNB token.
Deflationary BNB
Binance Smart Chain is set for its scheduled hard fork upgrade with the current block generation speed rates indicating it may take place by November 30th.
Validators and full node operators have already been put on notice to upgrade their software to version v1.1.5 by November 30th. But just what exactly does v1.1.5 entail?
“v1.1.5 upgrade is a hard fork release that introduces the 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%.” BSC Matthew explained via Binance’s official blog on November 18th.
With BSC already one of the most active blockchains, breaking the daily transaction figure record and with more than 2 million daily active addresses, the hard fork was always going to arrive quickly.
The huge growth could not have been anticipated but has certainly exemplified the network as more than capable of handling the huge traction. The move positions BNB nicely to compete with the notable deflationary mechanisms established on Ethereum as well.
The upgrade is now set to introduce the BEP-95 with a real-time burning mechanism that may well shift BNB into a deflationary token. BNB’s price has already shown healthy growth in recent weeks, but this development could see it exceed expectations.
We look forward to tracking the Bruno Hardfork Upgrade’s impact on Binance Smart Chain and indeed BNB.
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Source : bsc.news
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