Binance Coin Unveils Native Staking and Governance with BSC Feynman Hardfork

On April 18th at 5:49 am UTC, Binance Coin (BNB) will undergo the BSC Feynman hardfork to implement native staking and governance on the Binance Coin network. Full node operators, validator operators, and staking delegators will be impacted by the hardfork.

Binance Coin to Launch Native Staking and Governance with BSC Feynman Hardfork

[Date and Time]

Binance Coin (BNB), the native cryptocurrency of the Binance Chain and Binance Smart Chain, is scheduled to undergo a hardfork dubbed "BSC Feynman" on April 18th, 2023, at 5:49 AM UTC.

Purpose

The BSC Feynman hardfork aims to introduce native staking and governance to the Binance Coin network. Native staking will allow BNB holders to earn rewards by staking their tokens. Governance will empower BNB holders to actively participate in the decision-making process of the network.

Affected Parties

The hardfork will primarily impact full node operators, validator operators, and staking delegators. Full node operators are responsible for maintaining a full copy of the blockchain and verifying transactions. Validator operators are responsible for validating new blocks and adding them to the blockchain. Staking delegators are those who delegate their BNB to validator operators to participate in staking.

Details

The BSC Feynman hardfork will involve a series of technical changes to the Binance Coin network. These changes are designed to enable native staking and governance mechanisms. The hardfork will also introduce a new blockchain consensus mechanism called "Proof-of-Stake Authority" (PoSA).

Impact on BNB Holders

BNB holders will be able to participate in staking once the hardfork is complete. Staking BNB will allow them to earn rewards proportional to the amount of BNB they stake. Additionally, BNB holders will gain the ability to participate in governance by voting on proposals that affect the network's development.

Significance

The BSC Feynman hardfork marks a significant milestone for Binance Coin. By introducing native staking and governance, the network will become more decentralized and community-driven. This move is likely to enhance the security, stability, and transparency of the Binance Coin ecosystem.

Additional Information

For further information on the BSC Feynman hardfork, please refer to the official tweet by BNB: https://twitter.com/BNBChain/status/1615809177564336136?s=20&t=oiX0xYnq9w6Xmqt7vZ3BCg

About Binance Coin (BNB)

BNB is the native coin that powers the Binance Chain ecosystem, including the BNB Beacon Chain and BNB Smart Chain. It serves several functions, such as:

• Reducing trading fees on the Binance exchange
• Paying for transaction fees on both the BNB Beacon Chain and BNB Smart Chain
• Being utilized in games and DApps within the BNB Chain ecosystem
• Participating in token sales hosted on the Binance Launchpad
• Providing liquidity on Binance Liquid Swap

BNB can also be used for real-world applications, including online and in-store purchases and travel bookings on platforms like Travala.com. As of September 2020, with the launch of the BNB Smart Chain, BNB can exist in three forms: BNB BEP-2 on the BNB Beacon Chain, BNB BEP-20 on the BNB Smart Chain, and BNB ERC-20 on the Ethereum network.