Caroline Bishop
Sep 02, 2024 05:46
Binance has announced that it will support the Horizon (ZEN) network upgrade and suspend deposits and withdrawals on September 12, 2024.
Binance, one of the world’s leading cryptocurrency exchanges, has announced its intention to support the upcoming Horizen (ZEN) network upgrade. According to Binance, the upgrade is scheduled to occur on September 12, 2024, at approximately 7:00 AM (UTC).
Upgrade Details
To facilitate the network upgrade, Binance will temporarily suspend deposits and withdrawals of tokens on the Horizen (ZEN) network starting from 07:00 UTC on the same day. The upgrade itself is expected to occur at approximately 08:00 UTC at a block height of 1,627,572. Trading of ZEN tokens will not be affected despite the suspension of deposits and withdrawals.
Technology processing
Binance assured users that it will manage all technical requirements related to the network upgrade to ensure a smooth transition. Deposits and withdrawals will resume once the upgraded network is deemed stable. The exchange also stated that there will be no further announcement regarding the resumption of services.
Impact on users
The upgrade aims to improve the performance and security of the Horizen network and provide a better user experience. Users are advised to plan their transactions accordingly to avoid inconvenience.
Official announcement
The original announcement, including additional technical details and updates, can be found on the Binance website.
Binance also noted 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.
As always, users are encouraged to stay informed of potential risks and consult with their financial advisors as needed, especially given the volatility of digital assets.
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