Binance Announces its Most Recent Innovation: BNB Auto-Burn

Binance replaces quarterly burn with BNB (Binance Coin) Auto-Burn that aims to provide its community with “greater transparency and predictability.”

With Auto-Burn, the crypto exchange platform also seeks to establish a “healthy blockchain ecosystem” with the BNB and BSC (Binance Smart Chain) communities.

The native token, BNB, powers transactions on the decentralized BSC, which is run by a community of developers, validators, delegators, and users (not by Binance).

As stated in the Binance blog post, BNB Auto-Burn will be objective and verifiable, independent of revenues generated on the Binance central exchange through the use of BNB.

In contrast to the previous protocol for the quarterly BNB burn, BNB Auto-Burn “will be automatically adjusting in that the burn amount will be based on the price of BNB. This will show “the supply and demand for BNB, as well as the number of blocks produced during a quarter calculated on the basis of on-chain information.”

At this moment, the price of BNB is $528, significantly lower than a month ago (a hit of $666 at the beginning of November), but relatively high if looking at the yearly Coin Market Cap.

On the Flipside

- Binance seeks to keep evolving in the blockchain world. The company recently signed an agreement to take part in World’s First Virtual Asset Ecosystem with the Dubai World Trade Centre Authority.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

You can always unsubscribe with just 1 click.

Source: Dailycoin.com
Please support thecryptocoinreport.com by sharing this post. Also, support us on https://twitter.com/the_crypto_coin and on instagram.com/the_crypto_coin_report/

Read More..
Source: #Dailycoincom
Source: thecryptocoinreport.com

#crypto
#cryptonews
#cryptocurrency
#nft
#nftnews

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

PolyCrystal Community AMA 07/15 Summary 📢

Nayms: An Introduction

Crypto Alien Babes Allies With MetaSphere for Metaverse Presence!

Bitcoin Derivative in Development by Wall Street Engineers

Bitcoin Derivative in Development by Wall Street Engineers

Sparrow in control, users will be able to customize their activities in the platform

Top ETH Whales Accumulate Shiba Inu As SHIB Price Is Eyeing 40% Upswing

The Consensus between the technology and the trading

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
thecryptocoinreport.com

thecryptocoinreport.com

More from Medium

Blankos Block Party is Launching Ethereum Bridge, Opening the Way to Most Wallets and Marketplaces

Blankos Block Party is Launching Ethereum Bridge, Opening the Way to Most Wallets and Marketplaces

The Russian Roundup Presents: An Introduction To CryptoSage

Samoyedcoin’s Energy Use Report

TTAP Coin Token matrix