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BurnBNB Destroys 157,700 BNB as a Result of BEP-95 Real-Time Destruction

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According to reports, BurnBNB said on social media that since the BEP-95 real-time destruction and upgrading, 157700 BNBs have been destroyed, with a value of …

BurnBNB Destroys 157,700 BNB as a Result of BEP-95 Real-Time Destruction

According to reports, BurnBNB said on social media that since the BEP-95 real-time destruction and upgrading, 157700 BNBs have been destroyed, with a value of about $58.54 million. It is reported that BNB’s real-time destruction mechanism was proposed by BEP-95, which is similar to the current EIP-1559 destruction mechanism of Ethereum.

157700 BNBs have been destroyed after BEP-95 upgrade

Analysis based on this information:


BurnBNB, a platform that is designed to burn Binance Coin (BNB) tokens, claimed on social media that it burned 157,700 BNB, which is worth approximately $58.54 million. The platform conducted BNB real-time destruction and upgrading after adopting the BEP-95 mechanism. According to the announcement, the real-time destruction mechanism, BEP-95, is similar to Ethereum’s EIP-1559 destruction mechanism.

The Binance Coin token or BNB is the official cryptocurrency of the Binance exchange. The Binance exchange founder, Changpeng Zhao created BNB in 2017 as a utility token to reduce trading fees paid by traders on the platform. The Binance team designed the BNB token to function as a utility coin, security token, or asset token, depending on the purpose of use. One of the features designed by the Binance team was token burn or destruction that would limit the total supply of BNB and increase its value in the long run.

Real-time destruction is a mechanism introduced by the BEP-95 proposal, which seeks to increase Binance Smart Chain’s sustainability and maintain a minimal market supply of BNB. The BEP-95 mechanism makes use of a real-time burn that destroys BNB tokens whenever a user transfers, staking, or undertaking any action that changes the token’s state. The real-time destruction mechanism ensures that the supply of BNB remains as minimal as possible, and this increases its value over time.

The Ethereum network introduced a similar mechanism known as EIP-1559 to improve the network’s stability and gas fee predictability. Like the BEP-95 mechanism, EIP-1559 seeks to reduce Ether’s inflation rate by burning a base fee portion of every transaction. This mechanism changes Ethereum’s monetary policy from being inflationary to deflationary, and this increases the value and scarcity of Ether over time.

In conclusion, BurnBNB’s announcement signals a significant development in Binance Smart Chain’s ecosystem that will increase the token’s value over time. BurnBNB’s use of the BEP-95 real-time destruction mechanism is also an excellent example of how networks can utilize blockchain technology to maintain token scarcity and value. With a total of 157,700 BNB destroyed, there is a potential for increased BNB value and continued adoption of real-time burn mechanisms by other blockchain networks.

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