Exchange

Binance To Support Binance Chain Mainnet Nightingale Upgrade Process

Headquartered in Malta, Binance, the leading cryptocurrency exchange has announced that the platform will support the forthcoming Binance Chain Mainnet Nightingale Upgrade. According to the official blog, Binance will block the deposition and withdrawal processes for the users owning BNB and all BEP2 tokens from July 9, 2020, at 2:00 AM (UTC).

After the successful testnet Nightingale upgrade, Binance Chain validators agreed to have a hard-fork upgrade at a block height of 99,550,000 which is likely to be achieved on July 9, 5:00 AM (UTC) considering the current block generation speed of the blockchain. The validators and the full node operators will be switching to v.0.7.2 post the upgrade. The team has affirmed that there will not be any hindrance in the trading of BNB and BEP2 tokens during the execution of the upgrade in the above-mentioned scheduled timings.

Binance users are advised to spare ample time for complete processing of deposits of BNB or BEP2 tokens before the designated time for the upgrade event. The exchange will manage all the technical issues or requirements for all the holders having BNB or BEP2 tokens in their Binance accounts. The event is a mere upgrade and will not lead to the launch of a new token on the network. The deposit and withdrawal processes for BNB and BEP2 tokens shall be restarted as when the team will be assured about the stability of the upgraded ecosystem. This shall be done soon without any further announcement by Binance.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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