Binance Announcement

Binance Announces Support for MultiversX (EGLD) and Ronin (RON) Network Upgrades and Hard Forks

(Tuesday-02 July 2024, 12:13 AM IST):

In the cryptocurrency news today, Binance, the leading cryptocurrency exchange, has announced its support for upcoming network upgrades and hard forks for the gaming tokens, MultiversX (EGLD) and Ronin (RON). This decision underscores Binance’s commitment to providing a top-notch user experience.

Binance Announcement
Source: Binance

Key Details:

  • MultiversX (EGLD) Upgrade:
    • When? The upgrade is scheduled for 00:20 on July 3, 2024 (UTC).
    • Service Suspension: Binance will pause EGLD token deposits and withdrawals at 23:20 on July 2, 2024 (UTC).
  • Ronin (RON) Upgrade:
    • When? The upgrade and hard fork will occur at block height 36,052,600, expected at 15:00 on July 3, 2024 (UTC).
    • Service Suspension: Binance will suspend RON token deposits and withdrawals at 14:00 on July 3, 2024 (UTC).

What are Network Upgrades and Hard Forks?

  • Network Upgrade: Think of it like a software update for the blockchain. It aims to fix bugs or enhance performance. Everyone on the network continues on the same blockchain.
  • Hard Fork: This is a more significant change, splitting the blockchain into two separate paths. Users and miners must decide which new blockchain to follow.

By supporting these updates, Binance ensures its users enjoy a smooth and efficient experience on its platform, staying ahead in the fast-evolving crypto landscap

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