Nervos Network

Get Nervos Network (CKB) all time high price, historical charts, latest news and other information.

Developers of the Binance Smart Chain, the Binance-backed decentralized blockchain platform, have proposed applying a mechanism to burn BNB tokens based on the utilization of the network. According to the proposal, this would benefit both validators and holders due to the increase in value that the token would experience thanks to token burns. The proposal, called Binance Evolution Protocol 95 (or BEP-95), bears a striking resemblance to EIP-1559, an already implemented Ethereum proposal that also burns fees.
Binance Smart Chain Could Burn Gas Fees
Binance Smart Chain, the decentralized blockchain backed by Binance, could be implementing a gas-burning mechanism in the near future. Developers of the chain unveiled a proposal that points in that direction. The proposal, called BEP-95, would burn some of the fees that users spend to make transactions or to interact with smart contracts on the network.
Normally these fees would go to validators as rewards for securing the network. But with BEP-95, 10% of these funds would be burned depending on network activity. This percentage is subject to change, and members can change this number via community vote. According to the proposal, the goal of this new implementation would be to “speed up the BNB burning process and improve its intrinsic value by burning a portion of gas fees.”

Chasing Sustainability
Binance Smart Chain developers could be betting on this change to make BNB more sustainable. Currently, Binance conducts BNB burns that are announced on a regular basis. But the exchange only agreed to burn 100 million BNB tokens. After this number is reached, no more burns will be conducted by the exchange.
By changing the economic policy of the network, developers aim to ensure that the currency remains competitive, decreasing the amount of BNB in the market and making it more scarce. This move seems to be mimicking the proposal that Ethereum approved earlier this year, called EIP-1559, that also implemented burning a part of the fees that would normally go to miners. This new economic proposal seems to have contributed to the price growth that Ethereum has experienced since its approval.
BNB and Ethereum don’t have a max supply, so there is a common interest in keeping the issuance and supply in check to maintain price stability. The proposal is still in its initial stages, and could change before being implemented on the BSC blockchain.
What do you think about Binance Smart Chain devs proposing to burn BNB coming from gas fees? Tell us in the comments section below.



























Developers of the Binance Smart Chain, the Binance-backed decentralized blockchain platform, have proposed applying a mechanism to burn BNB tokens based on the utilization of the network. According to the proposal, this would benefit both validators and holders due to the increase in value that t...

news.bitcoin.com

Binance Smart Chain Devs Propose Ethereum-Like Gas Fee Burning Mechanism

Binance Smart Chain announced its exclusive Binance Evolution Protocol, BEP-95, that will facilitate a real-time burning mechanism on the BSC network, which according to the firm will make BSC more decentralized by radically escalating the burning speed of BNB.
The BEP-95 real-time burning system will be limited to the activity on the BSC network, and it will continue to decrease the BNB supply, even after achieving the target supply of 100m BNB in circulation, which in turn will hike BNB value due to higher demand. However, the Press Release specified that the upgrade is still in the drafting stage.
“The BSC network can speed up the BNB burning process and improve its intrinsic value by burning a portion of gas fees. The BNB holders will decide how to dispatch the BSC gas reward. While implementing this BEP might decrease the total amount of BNB that validators and delegators receive from staking, the fiat-denominated value of their rewards may increase. This burning mechanism would further reduce BNB supply; thus, increasing demand would drive the BNB value higher.”
BEP-95 Validators’ burnRatio
The exchange platform noted that each block will burn a fixed ratio of the gas fee collected by the validators, and the burning ratio will also be adjustable through governance. The burning ratio governance parameters will be mentioned in the ValidatorSet Contract. This means that at the end of each block, the Validator will be required to sign a transaction to bring forth the deposit function of the contract to further transfer the gas fee. The initially proposed burn ratio is 10 percent.
Furthermore, Binance mentioned that the process to change the burnRatio will be determined through a democratic proposal and vote system by BSC Validators based on their voting power (staked BNB). Every community member will have the opportunity to propose a change in the parameters, and the implementation will occur post a minimum deposit of 2,000 BNB on the mainnet.
“This will allow the validators to vote on the proposal; all BNB is returned after the proposal has been voted on. The BSC validators can vote “for” or “against” based on their voting power.”
The post Binance latest BEP-95 upgrade introduces a real-time token burning mechanism appeared first on Coingape.


Binance Smart Chain announced its exclusive Binance Evolution Protocol, BEP-95, that will facilitate a real-time burning mechanism on the BSC network, which according to the firm will make BSC more decentralized by radically escalating the burning speed of BNB. The BEP-95 real-time burning system...

coingape.com

Binance latest BEP-95 upgrade introduces a real-time token burning mechanism

The Governing Council of the Hedera Hashgraph recently announced an allocation of 10.7 billion HBAR, the network’s native token that is used to fund the expansion and development of its ecosystem.
At the time of the announcement, the amount allocated for the special fund was worth 20% of the total token supply at about USD 4.5 billion. This brings great enthusiasm into the HABR ecosystem as analysts expect DeFi, NFTs, iGaming, and CBDCs on Hedera.
Another notable and positive announcement for the HBAR token is the launch of USDC stablecoin as the first stablecoin on the Hedera proof of stake blockchain network. The addition of USDC to the Hedera ecosystem implies the ease of deploying DeFi applications on the network.
Read on as we draw insights from the technical charts of the HBARBTC and HBARUSDT on multiple time frames.
Hedera Hashgraph HBARBTC Weekly Chart Analysis

Paired against Bitcoin BTC, the HBAR continues to maintain a bullish outlook with the RSI surging beyond level-75 and continues to trade above level-25 since the first breakout of the bearish divergence trend line on 08 March ’21.
Bitcoin BTC shows strength against the HBAR at press time, however, all of that could change as the HBARBTC price chart hovers above the 21 June ’21 support line and may likely trigger a second hidden bullish divergence for a price recoil to the upside.
Hedera Hashgrap HBAR Weekly Chart Analysis

An overhead view of the HBARUSDT from the weekly time frame shows massive demand for the HBAR crypto-asset as the price chart trades in an expanding channel formed by bearish divergence on 15 March ’21 and bullish divergence on 21 June ’21.
A rather recent bullish divergence is in the works at press time and we may soon see a price surge beyond the 15 March previous all-time high.
Hedera Hashgraph HBAR Daily Chart Analysis

The above annotated daily chart reveals a series of hidden bullish divergence patterns that also confirms the price floors for the weekly time frame with significant support levels on 21 September and 12 October ’21. These support levels were established by hidden bullish divergence, bear-trap candlestick patterns, and hidden bullish inside-bar candlestick patterns.
A breakout beyond the 04 October ’21 resistance is very possible considering that the HBARUSDT trades within a symmetrical triangle.
Conversely, a breakdown below the $0.32 support shows bearish sentiment and new lows to come.
Hedera Hashgraph HBAR 4HR Chart Analysis

At an intraday level, the HBARUSDT is set to skyrocket as the HBAR price breaks above the $0.3572 bearish inside-bar resistance while also signaling a hidden bullish divergence on 18 October 04:00.
A breakdown below the $0.32 support level would trigger a bearish scenario and lower price targets for short-sellers.
Hedera Hashgraph HBAR Intraday Levels

Spot rate: 0.3665
Mid–Term Trend [H4]: Bullish
Volatility: High
Support: $0.3200, $0.3411, and $0.3572
Resistance: $0.400

The post Hedera Hashgraph HBAR Price Analysis: HBAR Finds Support Across Three Major Time Frames and Increase in Demand vs. BTC appeared first on Coingape.


The Governing Council of the Hedera Hashgraph recently announced an allocation of 10.7 billion HBAR, the network&#8217;s native token that is used to fund the expansion and development of its ecosystem. At the time of the announcement, the amount allocated for the special fund was worth 20% of th...

Hedera Hashgraph HBAR Price Analysis: HBAR Finds Support Across Three Major Time Frames and Increase in Demand vs. BTC

Circle announced today the launch of its trademark stablecoin USDC on top of the Hedera network. This action is part of the multichain commitment that Circle announced earlier this year, with the objective of further expanding the reach of the currency in the cryptocurrency market. With the addition of USDC as the first stablecoin in its ecosystem, Hedera aims to start developing its own decentralized finance (defi) environment, and it is now offering more than $2.5 billion in ecosystem grants.
Circle to Support Hedera-Based USDC
Circle, one of the leading crypto payment companies, has announced the launch of usd coin (USDC) on top of Hedera, a high-throughput blockchain network. With this move, Circle customers with a Circle Account will have the opportunity of leveraging the stablecoin on top of Hedera network to make payments and settlements like with any other supported network.
The launch of the stablecoin on top of Hedera is part of an expansion strategy established by Circle earlier this year when it declared USDC would launch on ten more blockchains, with Hedera being one of the protocols in the list. Circle wants to establish its stablecoin as the defacto choice for decentralized finance (defi) protocols, and making it natively available in many of these chains is the first step to do that.
About the launch of Usdc in Hedera, Circle CEO Jeremy Allaire stated:

Support for Hedera USDC means more people can take advantage of dollar digital currencies. With Hedera, enterprises and financial institutions can access deep liquidity across countries and platforms.


Hedera Welcomes USDC
Hedera is hoping to get a boost for its in-development defi strategy with the arrival of USDC on its platform. Hedera claims it has a great opportunity of becoming one of the most used chains in the USDC environment due to its high transaction output and low fees. On this, Shayne Higdon, CEO and Executive Director of the HBAR Foundation stressed:

With the USDC launch on the Hedera network, The HBAR Foundation is taking an important step toward fulfilling its mission to ease the development and launch of Defi applications on the network.

Hedera is now offering a $2.5 billion ecosystem grants program destined to build applications using Hedera’s blockchain. Some of these funds will surely be directed to defi applications, that will have now much more utility with a known, established stablecoin present in the platform.
USDC’s popularity has been growing during the last four months when it added more than $10 billion to its market cap, threatening the dominance of tether (USDT), the leading stablecoin.
What do you think about the launch of Usdc on top of Hedera? Tell us in the comments section below.



























Circle announced today the launch of its trademark stablecoin USDC on top of the Hedera network. This action is part of the multichain commitment that Circle announced earlier this year, with the objective of further expanding the reach of the currency in the cryptocurrency market. With the addit...

Stablecoin USDC Launches on Hedera Network

FinCEN, the U.S. Financial Crimes Enforcement Network, linked more than $5 billion in bitcoin transactions to the most common ransomware variants out there. The organization stated in a report issued last week that the mean average total monthly suspicious amount of ransomware transactions was $66.4 million during the first two quarters of 2021. FinCEN also determined that the most used cryptocurrency associated with these activities was bitcoin.
FinCEN Dives Into Ransomware Attacks
FinCEN, the U.S. Financial Crimes Enforcement Network, found that more than $5 billion in bitcoin transactions were linked to payments made to the top-ten most popular ransomware variants. These findings were published by the institution in a report titled “Ransomware Trends in Bank Secrecy Act Data Between January 2021 and June 2021,” which summarizes the ransomware activity during the first two quarters of the year.
The report, which examines ransomware trends and their critical effect on infrastructure, states that 635 reports and 458 transactions were reported as of June. This number goes over the whole amount of incidents that were reported during 2021. Some of the most known incidents include the Colonial Pipeline attack, which caused shortages of gas all across the country.

Bitcoin the Preferred Crypto
The report also found that bitcoin was the most used cryptocurrency for ransomware-related transactions. In the examined period, FinCEN reported that the vast majority of payments associated with these incidents were requested to be made in bitcoin. However, there was a marginal increase in payments made with monero, a privacy-focused cryptocurrency.
Another interesting finding of the report is that most of the funds collected through these activities were directed to known entities such as exchanges and that techniques such as “Chain Hopping”, which involves changing one cryptocurrency into another, were being used to avoid detection by the authorities. The use of mixers is also an increasingly common occurrence, seeking to further obfuscate the paths of the mixed cryptocurrencies.
Defi applications could also serve to convert some of these currencies to others in order to exchange them freely on other, more liquid exchanges. FinCEN identified ransomware-related funds that were sent indirectly to addresses associated with open protocols for use on defi applications.
The institution advised organizations to be quick to file a suspicious activity report when a ransomware attack happens and to integrate intrusion detection systems in their cyber defense mechanisms.
What do you think about FinCEN’s latest ransomware report and its link to cryptocurrencies? Tell us in the comments section below.



























FinCEN, the U.S. Financial Crimes Enforcement Network, linked more than $5 billion in bitcoin transactions to the most common ransomware variants out there. The organization stated in a report issued last week that the mean average total monthly suspicious amount of ransomware transactions was $6...

Nervos Network price	$0.020142
Low - High 24H	$0.019226 - $0.02065
Market cap	$570.43M
Volume 24H	$16.65M
All time high	$0.043706 -53.53% March 31st 2021
All time low	$0.002487 716.58% March 13th 2020
Genesis date	N/A

Recently viewed

Trending

Nervos Network (CKB)

Performance

Nervos Network News

Quick stats