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
Comments are closed.