November 30, 2021

Bruno's update on the Binance Smart Chain network was successful

Bruno's update on the Binance Smart Chain network was successful

The v1.1.5 update to the Binance Smart Chain (BSC) network called Bruno was successful today. It was activated on a block of 13,082,000.

This update is important for the economic model of BSC and will allow the network to become more decentralized and in the long run increase the intrinsic value of BNB.

Bruno's update added a real-time transaction recording mechanism (BEP-95) to the BSC network and accelerated node synchronization by 60-70%. The network added a function to burn a portion of the fees paid to BNB. Validators can adjust the burn-in ratio, which is 10% by default. Also, the gas fee has been reduced.

Many experts note that this burn-in mechanism is very similar to the EIP-1559 algorithm that was implemented in the Ethereum network during the London update. The Bruno update will limit the supply of BNB coins on the market, which will stimulate price growth.

The developers noted that the implementation of BEP-95 will not directly affect ordinary users. It will only affect validators and operators of full nodes, who need to update their software.

BSC is one of the world's most active blockchain networks. Developers report that on average more than 2 million people use it every day.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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