Cardano’s upgrade, called SECP or Valentine, is expected to launch today.
The update proposal was submitted on February 10 by Cardano founder IOG, in collaboration with the Cardano Foundation and Emurgo. New cryptographic primitives will be added to Cardano as a result of the Standard for Efficient Cryptography (SECP) upgrade, promoting increased compatibility and secure cross-chain dApp development with Plutus.
The capabilities of new built-in functions in Plutus that handle ECDSA and Schnorr signatures will be enabled in this upgrade to make it easier for developers to build cross-chain applications.
Binance Will Temporarily Suspend Deposits
IOG claims the new upgrade is less complex than Vasil and has less impact on existing dApps.
However, a Twitter Space post will be held on February 14 by Cardano founder Charles Hoskinson, IOHK, and others to discuss issues related to IOG’s lightweight wallet, Lace.
Binance, the largest crypto-asset trading platform by trading volume, announced that it will support Cardano network upgrade and hard fork. According to the information announced by the exchange, ADA deposits and withdrawals will be suspended around February 14, 23:44 CEST.
There will be no additional tokens generated as a result of the hard fork and network upgrade. Once Binance determines that the updated network is stable, ADA will resume deposits and withdrawals.
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