Binance to Support Zilliqa Network Upgrade & Fork
Binance will fully support the upcoming Zilliqa network upgrade and hard fork to improve network performance.
- Binance confirms support for Zilliqa network upgrade
- Temporary suspension of $ZIL deposits and withdrawals
- Upgrade aims to enhance network stability and scalability
Binance, the world’s leading crypto exchange, has officially announced support for the upcoming Zilliqa network upgrade and hard fork. The upgrade is part of Zilliqa’s ongoing development to improve performance, security, and scalability.
The upgrade is scheduled to occur at a predetermined block height. To ensure a smooth transition, Binance will temporarily suspend deposits and withdrawals of $ZIL tokens around the time of the upgrade. However, trading of ZIL on the exchange will remain unaffected during the process.
What the Upgrade Means for Zilliqa
This network upgrade and hard fork will introduce improvements that are critical for Zilliqa’s long-term roadmap. Zilliqa is known for its unique sharding technology that allows the blockchain to process thousands of transactions per second. With this upgrade, the network aims to further optimize transaction speeds and reduce latency.
While technical details of the upgrade are expected to be shared by the Zilliqa team, the support from Binance ensures that users holding ZIL on the exchange won’t need to take any manual action. Binance will handle all technical requirements involved in the upgrade.
Impact on ZIL Holders
ZIL holders on Binance don’t need to worry about any disruptions. Once the upgrade is complete and the network stabilizes, deposits and withdrawals will resume automatically.
This support reflects Binance’s continued commitment to backing blockchain innovation and adapting to ecosystem upgrades. Zilliqa’s evolution through this hard fork could potentially boost the network’s capabilities and increase confidence among developers and investors.
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