Key Takeaways:
- Binance supports Chiliz (CHZ) and MultiversX (EGLD) network upgrades and hard forks.
- The upgrades aim to enhance the user experience on the respective networks.
- Trading of tokens on the networks will not be affected, and Binance will ensure a seamless transition.
Binance, one of the prominent cryptocurrency exchanges globally, has recently announced its support for the network upgrades and hard forks of Chiliz (CHZ) and MultiversX (EGLD). These upgrades are intended to improve the user experience on these networks.
Details of the Network Upgrades
The Chiliz (CHZ) network upgrade and hard fork are scheduled to take place at the block height of 13,189,711 on 2024-05-20 at 07:00 UTC. Prior to this event, Binance will halt the deposits and withdrawals of CHZ tokens on the network from 2024-05-20 at 06:00 UTC.
Similarly, the MultiversX (EGLD) network upgrade is set for 2024-05-21 at 16:20 UTC. Binance will also suspend the deposits and withdrawals of EGLD tokens on the MultiversX network starting from approximately 2024-05-21 at 15:20 UTC.
Impact on Trading and User Experience
Users trading tokens on these networks can rest assured that these changes will not disrupt their transactions. Binance will manage all technical requirements for users, ensuring a smooth transition during the upgrades. Once the networks stabilize, deposits and withdrawals for tokens on the upgraded networks will be reopened without the need for further announcements.
Binance’s Commitment to Enhancing User Experience
Binance’s continuous support for major network upgrades and hard forks in the cryptocurrency realm showcases its dedication to improving the user experience and solidifying its position as a leading global cryptocurrency exchange. By seamlessly handling these upgrades, Binance ensures a reliable and efficient trading environment for its users.
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Conclusion
In conclusion, Binance’s backing of the Chiliz (CHZ) and MultiversX (EGLD) network upgrades and hard forks demonstrates its commitment to providing a hassle-free trading experience for its users. By overseeing the technical aspects of these upgrades and ensuring minimal disruption to trading activities, Binance reaffirms its position as a dependable and user-centric cryptocurrency exchange in the evolving digital landscape.
