- Global cryptocurrency exchange Binance has announced its support for the upcoming network upgrade of the altcoin IRISnet (IRIS).
- The upgrade is set to enhance the network’s performance and user experience, with Binance managing all technical requirements for the upgrade.
- “This proactive measure by Binance aims to facilitate a smooth transition and maintain optimum service quality during the IRISnet network enhancement,” stated a Binance spokesperson.
Explore the implications of Binance’s support for the IRISnet upgrade and its potential impact on the crypto market.
Binance to Suspend IRIS Token Deposits and Withdrawals During Upgrade
For a seamless user experience, Binance will temporarily suspend deposits and withdrawals of IRIS tokens starting approximately at 07:30 on May 20, 2024. The network upgrade is expected to occur at block height 25,006,118 around 08:30 on the same day. Trading of IRIS tokens will not be affected during this period.
Technical Preparations and User Guidance
Binance has assured that it will handle all the necessary technical preparations for the upgrade. Users are advised to stay informed through Binance’s official channels for additional information or updates.
Resumption of Services Post-Upgrade
Once the network upgrade is completed and stability is confirmed, deposit and withdrawal services for IRIS tokens will be restored to their normal state. Binance has indicated that no further announcements will be made regarding the resumption of these services.
Conclusion
The upcoming IRISnet network upgrade is a significant event for both Binance and the IRIS token holders. By supporting this upgrade, Binance continues to demonstrate its commitment to enhancing user experience and network performance. The successful completion of this upgrade could potentially lead to increased trust and adoption of the IRIS network.
