In anticipation of vital network enhancements, the leading cryptocurrency exchange Binance has signaled its readiness to support upcoming upgrades and hard forks for the Polygon and Cosmos blockchains. These network improvements are scheduled for March 20, 2024, and Binance is set to manage the technical adjustments needed for a seamless switchover. Aimed at bolstering the user experience, these measures highlight Binance’s proactive stance in adapting to blockchain advancements.
Interruptions Expected for Token Movements
The Polygon network upgrade, anticipated to activate at a specified block height, will lead Binance to halt MATIC token movements starting an hour before the event. Likewise, the Cosmos network’s hard fork, also tethered to a specific block height, will prompt the exchange to cease ATOM token transactions half an hour prior to the upgrade.
Uninterrupted Trading During Network Updates
Despite the pause in token deposits and withdrawals, Binance assures uninterrupted trading of MATIC and ATOM throughout the network upgrade process. The exchange commits to handling the necessary technical preparations to ensure that trading activities carry on without any hitches during these system-wide updates.
Subsequent to the successful completion of the network upgrades, Binance plans to swiftly reinstate deposit and withdrawal functions for the affected tokens. This resumption of services will be automatic, with no need for additional user communications once the network operations are verified to be stable.
Binance’s involvement in the upcoming network upgrades for Polygon and Cosmos illustrates its dedication to maintaining a robust and efficient trading platform in alignment with the continuous evolution of the digital asset landscape.