Binance has announced support for significant updates and hard forks for the Harmony (ONE) and VITE networks, ensuring minimal disruption for its users. The cryptocurrency exchange will handle all technical aspects of these processes, allowing trading to continue smoothly while temporarily halting deposits and withdrawals.
What Are the Key Dates for These Updates?
The Harmony network’s upgrade is scheduled to initiate on October 31, 2024, at 16:00 (UTC+3). The hard fork will occur when the block height reaches 64,847,872, leading to temporary suspension of deposit and withdrawal services starting at 15:00 (UTC+3), one hour prior to the update.
How Will the VITE Network Be Affected?
The VITE network will undergo a similar update on the same date at 17:30 (UTC+3), coinciding with the achievement of a block height of 166,869,900. Deposits and withdrawals for VITE will also be paused from 16:30 (UTC+3).
Throughout these updates, trading activities for both networks will remain uninterrupted. Binance reassured users that they can continue trading without concern for the updates and hard forks. Users will not be required to take any actions, as Binance will manage all necessary procedures.
- Updates for Harmony will start on October 31, 2024.
- Deposits and withdrawals will pause an hour before each update.
- Trading will not be affected during the updates.
- Post-update resumes will depend on network stability checks.
Binance plans to announce the reopening of deposits and withdrawals once the safety and stability of both networks are confirmed post-upgrade. Users can stay informed through Binance’s official communications regarding these changes.