Binance to Support IoTeX (IOTX) Network Upgrade and Hard Fork

Binance,
one
of
the
leading
cryptocurrency
exchanges,
has
announced
its
support
for
the
upcoming
IoTeX
(IOTX)
network
upgrade
and
hard
fork.
According
to
Binance,
the
process
will
begin
on
2024-07-21
at
23:00
(UTC),
during
which
deposits
and
withdrawals
of
IOTX
tokens
will
be
temporarily
suspended
to
ensure
a
smooth
transition.

Details
of
the
Upgrade

The
network
upgrade
and
hard
fork
will
occur
at
the





block
height
of
31,174,201,
which
is
expected
to
be
reached
approximately
at
2024-07-22
00:05
(UTC).
Binance
has
assured
its
users
that
the
trading
of
IOTX
tokens
will
not
be
affected
during
this
period.
The
exchange
will
handle
all
technical
requirements
necessary
for
the
upgrade.

Impact
on
Users

Binance
has
outlined
several
key
points
for
its
users:

• The
  trading
  of
  IOTX
  tokens
  will
  continue
  without
  interruption.
• Binance
  will
  manage
  all
  technical
  aspects
  related
  to
  the
  upgrade
  on
  behalf
  of
  its
  users.
• Deposits
  and
  withdrawals
  will
  resume
  once
  the
  upgraded
  network
  is
  deemed
  stable.
  No
  further
  announcements
  will
  be
  made
  regarding
  this.

Users
are
advised
to
reference
the
original
English
version
of
the
announcement
for
the
most
accurate
information,
as
there
may
be
discrepancies
in
translated
versions.

Context
and
Additional
Information

Network
upgrades
and
hard
forks
are
common
in
the
blockchain
ecosystem
as
projects
seek
to
improve
their
protocols.
IoTeX,
a
privacy-centric
blockchain
for
the
Internet
of
Things
(IoT),
aims
to
enhance
its
network’s
performance
and
security
through
this
upgrade.

For
more
details,
users
can
refer
to
the

official
announcement
on
Binance’s
website.

Binance
has
also
issued
a
reminder
about
the
risks
associated
with
digital
asset
investments,
emphasizing
that
prices
are
subject
to
high
market
risk
and
volatility.
The
exchange
advises
users
to
make
informed
investment
decisions
and
consult
independent
financial
advisors
if
necessary.

Image
source:
Shutterstock