Binance, the world’s largest cryptocurrency exchange by volume, has made three new announcements. The announcements cover the ETHW token, Tezos, and Ethereum wallet maintenance launched after the ETH transition to PoS. Here are the details…
Wallet maintenance for Ethereum: Transactions will be suspended
Binance will perform wallet maintenance for the Ethereum network (ERC20) tomorrow at 9 pm. The maintenance will take about three hours. Token trading on Ethereum will not be affected during wallet maintenance. Deposits and withdrawals on the Ethereum Network (ERC20) will be suspended from tomorrow at 08:55. They will reopen deposits and withdrawals after the maintenance is complete.
Binance Convert adds ETHW
Following the distribution of Ethereum Proof-of-Work (ETHW) tokens to eligible users, Binance has added ETHW to Binance Convert. Users can now sell ETHW against BUSD and USDT on Binance Convert. However, users can only sell ETHW at this point, as ETHW is a fork that may pose a higher-than-normal risk and therefore may be subject to price volatility. To protect Binance users, ETHW will go through Binance’s strict listing review process. Supporting ETHW on Binance Convert does not guarantee that ETHW will be listed.
After the Ethereum (ETH) merge went live, some miners decided to stay in PoW and support this consensus. This created a new fork and the launch of the ETHW mainnet. ETHW is a layer-1 blockchain that preserves the pre-merge PoW consensus. So far, there are more than 20 active mining pools focused on ETHW. On Tuesday, Binance completed the distribution of Ethereum PoW tokens to eligible ETH holders following the merge.
Exchange will support Tezos (XTZ) update
Finally, the exchange will support Tezos (XTZ) network upgrade. The Tezos (XTZ) network upgrade will occur at Tezos mainnet block height of 2,736,129. This corresponds to approximately 24 September 2022, 01:55 CEST. XTZ’s deposits and withdrawals will be suspended on the same day, starting at approximately 00:55. XTZ trading will not be affected during the network upgrade.
The Tezos (XTZ) network upgrade will occur at Tezos mainnet block height of 2,736,129. Binance will meet all relevant technical requirements for all users holding XTZ on their exchange accounts. They will restart deposits and withdrawals for XTZ once they feel the upgraded network is stable. Tezos is a Blockchain network for launching decentralized applications (dApps) and executing smart contracts. Access to the program code is open and every user participates in system modernization.
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