Louisa Crawford
28 Aug 2024 03:38
Binance announces support for the Kaia (KLAY) network upgrade and hard fork, and temporarily suspends deposits and withdrawals.
Binance, one of the major cryptocurrency exchanges, has announced support for the upcoming Kaia (KLAY) network upgrade and hard fork. According to an official announcement from Binance, the exchange will temporarily suspend deposits and withdrawals of KLAY tokens starting from 2024-08-29 00:30 (UTC).
Network Upgrade and Hard Fork Details
The Kaia network upgrade and hard fork is scheduled to occur at block height 162,900,480 or approximately 2024-08-29 01:30 (UTC). This upgrade aims to improve the performance and security of the network, ensuring a better user experience for all participants.
Impact on transactions and user operations
Binance has assured users that there will be no impact on KLAY token trading during the network upgrade. The exchange will manage all technical requirements for the upgrade, so that users do not have to perform any manual actions. Once the upgraded network is deemed stable, deposits and withdrawals will be reopened without further announcement.
Additional information
Binance emphasized that there may be discrepancies in the translated version of the announcement and advised users to refer to the original English version for the most accurate information. For more technical details, check out the project release on GitHub.
This move follows Binance’s ongoing efforts to support network upgrades and hard forks, allowing users to benefit from the latest developments in blockchain technology. The exchange’s proactive approach helps maintain a safe and efficient trading environment for all users.
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