Cardano

Cryptocurrency

Read

Binance has announced that it will support Cardano’s upcoming network upgrade and hard fork.
Cryptocurrency exchange giant Binance disclosed its readiness to support Cardano (<a href="https://crypto.news/price/cardano/" rel="noopener noreferrer nofollow">ADA</a>) for its Chang hard fork in an <a href="https://www.binance.com/en/support/announcement/binance-will-support-the-cardano-ada-network-upgrade-hard-fork-8d18c0b0eb3d4772818b053b9bf2f6d0" target="_blank" rel="noopener noreferrer nofollow">announcement</a> on Aug. 30. Ahead of the hard fork, Binance will halt ADA deposits and withdrawals.
The exchange expects a temporary pause to Cardano deposits and withdrawals will take effect on Sept. 1, 2024, at 20:45 UTC. Notably, Sept. 1 is the date Cardano expects to activate its Chang hard fork, which was rescheduled from Aug. 27 due to Binance and other crypto exchanges’ unpreparedness.
Read more: <a href="https://crypto.news/cardano-delays-chang-hardfork-for-binance-other-cex-upgrades/" rel="noopener noreferrer nofollow"> Cardano delays Chang hardfork for Binance, other CEX upgrades </a>
<h2 class="wp-block-heading" id="what-should-binance-users-note">What should Binance users note?</h2>
According to Binance, the halt to deposits and withdrawals will not impact ADA trading. The exchange will also handle any technical requirements on behalf of its users, meaning Cardano holders don’t have to do anything.
However, the resumption of deposits and withdrawals will only go live once the hard fork is complete and the network is deemed stable.
<h2 class="wp-block-heading" id="cardano-set-for-chang-hard-fork">Cardano set for Chang hard fork</h2>
The Chang hard fork is key to Cardano’s roadmap, with the upgrade being part of the path to the <a href="https://roadmap.cardano.org/en/voltaire/" target="_blank" rel="noopener noreferrer nofollow">Voltaire era</a>. Voltaire will see Cardano become a self-sustaining ecosystem, with governance improvements including a voting and treasury system.
Chang has elicited a lot of community interest, with anticipation as high as it was ahead of the activation of smart contracts on Cardano via the <a href="https://crypto.news/the-comparison-between-cardanos-vasil-hard-fork-and-ethereum-merger/" rel="noopener noreferrer nofollow">Vasil hard fork</a>.&nbsp;&nbsp;
On Aug. 28, the working group for the hard fork, which includes community representatives, Emurgo, the Cardano Foundation, and Intersect, voted for the Chang go-ahead. This follows the earlier delay after exchanges appeared to lag in their preparations.
Per the <a href="https://x.com/IntersectMBO/status/1828827155926568971" target="_blank" rel="noopener noreferrer nofollow">update</a>, stake pool operators, decentralized applications and exchanges have since reached the expected implementation threshold.&nbsp;
SPOs were at 92% of readiness, while exchanges had hit the threshold after being only at 46% as of Aug. 23. Exchange readiness was at over 90% while total value locked in dApps stood at 50% readiness.
You might also like: <a href="https://crypto.news/binance-denies-allegations-of-seizing-mass-palestinian-funds/" rel="noopener noreferrer nofollow"> Binance denies allegations of seizing mass Palestinian funds </a>

Binance to support Cardano’s Chang hard fork

Table of Contents

crypto.news

Other articles published on Aug 30, 2024

How To Cashout CS2 Skins With Cryptocurrencies

Solo Miner Wins $200K Bitcoin Jackpot with Tiny Hashrate

Cardano Faces Hard Fork Delay & Chainlink Wavers; BlockDAG Becomes Borussia Dortmund’s Premium Pa...

MakerDAO Rebrands as 'Sky' and Introduces New Stablecoin USDS

B2BROKER and Spotware Announce Full Integration of B2COPY with cTrader

Meme Coins that Saw the Biggest Falls in August 2024

Join our free newsletter for daily crypto updates!