Binance to Suspend Deposits Amid BNB Chain Hard Fork


Cryptocurrency exchange Binance will support the hard fork of the BNB Chain main network called Plato, which will occur at block 30,720,096 or around August 10 at 05:00 (Kyiv / Moscow time).

The deposit and withdrawal of tokens will be temporarily stopped 15 minutes before the update.

Plato includes a BEP-126 improvement proposal that integrates the FastFinality mechanism to speed up block finalization.

In the near future, three more planned hard forks will take place in the mainnet – Hertz, London, Berlin. Their activation is scheduled for the end of August.

The innovations will improve compatibility with the Ethereum networks and involve minor changes to the fee mechanisms.

Earlier, BNB Chain developers successfully activated the Luban update, which improved the security and reliability of transactions.

In June, the project launched the opBNB testnet – EVM-compatible layer 2 scaling solution based on Optimism.

Recall that in April, the blockchain team spoke about the implemented and planned network updates.

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