Binance Smart Chain Network Upgrade and Hard Fork
Binance Smart Chain will have a hard fork upgrade at block height 13,082,000. This upgrade is estimated to happen on November 30th at 8 AM UTC. The upgrade is called the “Bruno Upgrade.”
What is the Bruno Upgrade
Bruno upgrade will introduce active burning and a new burning process for BNB, more on that in a bit. The upgrade is also estimated to increase the node sync time by more than 60%. This upgrade will change the logic of the blockchain allowing for new features and fixing existing bugs.
This upgrade will introduce BEP-95 which is the real-time burning mechanism. BEP-95 will burn a fixed ratio of gas fees collected by validators of each block, a ratio adjusted by governance. The burning aims to decrease the number of BNB tokens in circulation, increasing the value of BNB by making it more scarce.
To vote on the burn ratio, you will be voting with your voting power determined by the volume of staked BNB you have.
Note for node Operators/Validators
Binance advises that you upgrade to version 1.1.5 by November 30th. If you do not upgrade, you will not be able to sync with BSC nodes and won’t connect or send transactions.
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