What is BEP-95?
BEP-95, also known as the Bruno Hard Fork Upgrade, is a proposed upgrade to the Binance Smart Chain (BSC) network. The upgrade introduces a number of new features and improvements, including:
A real-time burning mechanism for BNB tokens.
A new block gas limit of 50 million.
A new block time of 3 seconds.
A new block producer selection algorithm.
A new fee schedule.
Why is BEP-95 needed?
The Bruno Hard Fork Upgrade is needed to address a number of challenges facing the BSC network, including:
Inflation: The BSC network is currently experiencing high inflation, with the supply of BNB increasing by 10% per year. This inflation is putting downward pressure on the price of BNB.
Scalability: The BSC network is currently experiencing scalability issues, with transaction fees increasing and confirmation times becoming longer.
Security: The BSC network has been the target of a number of attacks, including a recent exploit that drained $32 million from the PancakeSwap decentralized exchange.
How will BEP-95 address these challenges?
The real-time burning mechanism will help to reduce inflation by removing BNB tokens from circulation. The new block gas limit will increase the capacity of the BSC network, which will help to reduce transaction fees and confirmation times. The new block time will also help to reduce confirmation times. The new block producer selection algorithm will make the BSC network more decentralized and secure. The new fee schedule will help to ensure that the BSC network is sustainable in the long term.
When will BEP-95 be implemented?
The Bruno Hard Fork Upgrade is currently scheduled to be implemented on February 15, 2023. However, this date may be subject to change.
What are the benefits of BEP-95?
The Bruno Hard Fork Upgrade will bring a number of benefits to the BSC network, including:
Reduced inflation: The real-time burning mechanism will help to reduce inflation by removing BNB tokens from circulation. This will help to put upward pressure on the price of BNB.
Increased scalability: The new block gas limit and block time will increase the capacity of the BSC network, which will help to reduce transaction fees and confirmation times.
Improved security: The new block producer selection algorithm and fee schedule will make the BSC network more decentralized and secure.
Conclusion
The Bruno Hard Fork Upgrade is a significant upgrade to the BSC network that will address a number of challenges facing the network. The upgrade will bring a number of benefits to the BSC network, including reduced inflation, increased scalability, and improved security.
