Binance Supports Kaia (KLAY) Network Upgrade and Hard Fork
Binance, a prominent cryptocurrency exchange, has announced its backing for the impending Kaia (KLAY) network upgrade and hard fork. In an official statement on its platform, Binance revealed that it will temporarily halt deposits and withdrawals of KLAY tokens, starting from around 2024-08-29 00:30 (UTC).
Network Upgrade and Hard Fork Overview
The Kaia network upgrade and hard fork are set to take place at the block height of 162,900,480, tentatively scheduled for approximately 2024-08-29 01:30 (UTC). This upgrade is designed to improve the network’s performance and security, ultimately enhancing the overall user experience.
Impact on Trading Activities and User Experience
Binance has assured its users that trading with KLAY tokens will remain unaffected during the network upgrade process. The exchange will handle all technical aspects required for the upgrade, alleviating users from any manual intervention. Once the upgraded network stabilizes, deposits and withdrawals will resume without the need for further notification.
Further Details
Binance has emphasized the possibility of discrepancies in translated versions of the announcement and recommends users to refer to the original English release for the most precise information. For comprehensive technical insights, users can review the project’s release on GitHub.
This decision underscores Binance’s ongoing commitment to supporting network upgrades and hard forks, ensuring that its users gain from the latest advancements in blockchain technology. The platform’s proactive stance contributes to maintaining a secure and efficient trading environment for all its participants.
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