new delhi binance smart chain bsc the binancebacked decentralized blockchain platform announced on october 22 its plans to introduce a realtime coin burning with the new binance evolution protocol bep95according to bsc developers the realtime burning mechanism proposal would benefit both validators and holders due to the increased value of tokens caused by burning bsc is the second crypto network after ethereum to opt for coin burning for inflating its price the bep95 is also quite similar to eip1559 the coin burning feature introduced in ethereum with the london hard fork upgrade bep95 is still being drafted and hasnt been finalized yetaccording to the binance blog bep95 and bsc will work in a coordinated fashion and the new protocol will benefit the network in the following ways bep95 burn is totally dependent on the working of the binance smart chain bsc network and it will continue decreasing bnb supply even after the scheduled bnb burns reach the target supply of 100 million tokens in circulation it will speed up the burning process of bnb tokens bep will make bsc more decentralised as a part of the gas fees will be burnt bnb burning process will be facilitated by the bsc network leading to improvement of its intrinsic value the scarcity caused due to burning would make bnb tokens more competitive and sustainable in the market however each bnb block will burn a fixed ratio of the gas fee collected by the validators in each block the burning ratio can be changed through governance the proposal bep95 would burn some of the fees that users spend to make transactions or to interact with smart contracts on the network normally these fees go to validators as rewards for securing the network bnb supply is capped at 200 million for the latest crypto news and investment tips follow our cryptocurrency page and for live cryptocurrency price updates click here