- Cryptocurrency exchange Binance has announced a temporary suspension of IRISnet (IRIS) token transactions to accommodate a network upgrade.
- The upgrade aims to enhance the overall user experience by improving network functionality and stability.
- “This upgrade is crucial for maintaining high standards of service and ensuring user transactions are secure and efficient,” stated a Binance spokesperson.
This article discusses the upcoming network upgrade for IRISnet on Binance, detailing the timing, impact on users, and key takeaways.
What are the Upgrade Timings?
The network upgrade for IRISnet is scheduled to occur at block height 25,006,118, which is expected around 08:30 Turkey time on May 20, 2024. Binance has confirmed that trading of IRIS tokens will not be affected during the upgrade process.
How Will Users Be Affected?
Binance will manage all technical aspects of the network upgrade, ensuring a smooth transition for users. The temporary suspension of deposits and withdrawals is a precaution to secure the upgrade process and prevent any transaction issues.
Key Takeaways for Users
Users should prepare for the temporary suspension of deposits and withdrawals starting at 07:30 Turkey time on May 20, 2024. It is advisable to complete any critical transactions ahead of the suspension or wait until the network is stable post-upgrade.
Conclusion
The proactive steps taken by Binance for the IRISnet upgrade highlight their commitment to user security and service quality. Users are encouraged to stay updated through official Binance communications for any further announcements.
