“`Bitcoin
- Binance, a leading cryptocurrency exchange, has announced its full support for the upcoming network upgrades and Hard Forks of Chiliz (CHZ) and MultiversX (EGLD).
- The exchange is taking proactive steps to ensure a seamless user experience during these significant updates.
- “Ensuring the stability and security of network upgrades is paramount to maintaining trust and providing uninterrupted service,” a spokesperson for Binance commented.
This article provides an in-depth look at Binance’s support for the upcoming Chiliz and MultiversX network upgrades, detailing the implications for users and the broader crypto ecosystem.
Binance to Support Upcoming Chiliz (CHZ) and MultiversX (EGLD) Network Upgrades and Hard Forks
The exchange is implementing several measures to facilitate a smooth transition during the network upgrades scheduled for Chiliz on May 20, 2024, and MultiversX on May 21, 2024.
Preparatory Steps by Binance
In preparation for the upgrades, Binance will suspend deposits and withdrawals for the tokens involved on the respective networks starting approximately one hour before the upgrades commence.
Impact on Trading and User Transactions
It is important to note that trading of tokens on both the Chiliz and MultiversX networks will not be affected by these updates. Binance will handle all technical requirements on behalf of its users to ensure a seamless transition.
Resumption of Services Post-Upgrade
Deposit and withdrawal services for the affected tokens will resume once Binance confirms the stability of the upgraded networks. The exchange will not make a separate announcement regarding the resumption of services.
Commitment to High Service and Security Standards
Binance’s support for these network events underscores its commitment to maintaining high service and security standards during critical network activities. Users are encouraged to stay informed through Binance’s official channels for any updates or additional information.
Conclusion
This proactive support by Binance for the Chiliz and MultiversX upgrades highlights the exchange’s dedication to user security and continuous service improvement, ensuring that the crypto trading environment remains robust and reliable.
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