Caroline Bishop Sep 02, 2024 05:46
Binance announces support for the Horizen (ZEN) network upgrade, temporarily suspending deposits and withdrawals on September 12, 2024.
Binance, one of the world’s leading cryptocurrency exchanges, has announced its intention to support the upcoming Horizen (ZEN) network upgrade. According to Binance, the upgrade is scheduled to take place on September 12, 2024, at approximately 07:00 UTC.
Details of the Upgrade
To facilitate the network upgrade, Binance will temporarily suspend deposits and withdrawals of tokens on the Horizen (ZEN) network starting at 07:00 UTC on the same day. The upgrade itself is expected to occur around 08:00 UTC, at the block height of 1,627,572. Despite the suspension of deposits and withdrawals, the trading of ZEN tokens will not be affected.
Technical Handling
Binance has assured users that it will manage all technical requirements involved in the network upgrade, ensuring a smooth transition. Deposits and withdrawals will be reopened once the upgraded network is considered stable. The exchange has also indicated that no further announcements will be made regarding the reopening of services.
Impact on Users
The upgrade aims to enhance the Horizen network’s performance and security, thereby providing a better user experience. Users are advised to plan their transactions accordingly to avoid any inconvenience.
Official Announcement
The original announcement, including further technical details and updates, can be found on the Binance website.
Binance has also noted the potential for discrepancies in translated versions of the announcement and recommends referring to the original English version for the most accurate information.
As always, users are encouraged to stay informed about potential risks and consult financial advisors if needed, especially given the volatile nature of digital assets.
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