Coin An to Suspend BNB Beacon Chain Recharge and Withdrawal Services for Network Upgrade and Hard Fork
On April 19th, it was reported that Coin An is expected to suspend the recharge and withdrawal services of the BNB Beacon Chain (BEP2) network at 14:45 Beijing
On April 19th, it was reported that Coin An is expected to suspend the recharge and withdrawal services of the BNB Beacon Chain (BEP2) network at 14:45 Beijing time on April 21, 2023, in order to support the network upgrade and hard fork of the BNB Beacon Chain (BEP2) at a height of 310182000 (estimated at 15:00 East Eighth District time on April 21, 2023).
Coin On will temporarily suspend the charging of BEP2 network on April 21st at 14:45 to support BNB Beacon Chain network upgrade
On April 19th, Coin An, one of the leading crypto exchanges, announced that it would suspend the recharge and withdrawal services of the BNB Beacon Chain (BEP2) network. This move aims to support the network upgrade and hard fork of the BNB Beacon Chain (BEP2) at a height of 310182000. The network upgrade is estimated to take place on April 21, 2023, at 15:00 East Eighth District Time. In this article, we will discuss what the BNB Beacon Chain is, why the hard fork is necessary, and how Coin An’s suspension of services will affect users.
The BNB Beacon Chain and its Purpose
The BNB Beacon Chain is a blockchain network used to support the operation and governance of the Binance Smart Chain (BSC). BSC is a blockchain network developed by Binance, the world’s largest crypto exchange in terms of trading volume. It is designed to provide a high-performance infrastructure for decentralized applications (dApps) and tokens. The BNB Beacon Chain is based on the Proof of Stake (PoS) consensus algorithm, which is more energy-efficient than Proof of Work (PoW) and enables validators to participate in network consensus without the need for expensive mining equipment.
The BNB Beacon Chain has several purposes, including:
– To provide network security and consensus for the Binance Smart Chain
– To enable cross-chain communication and asset transfers between Binance Smart Chain and other blockchain networks
– To support the development of decentralized finance (DeFi) applications on the Binance Smart Chain
The Need for the Hard Fork
A hard fork is a software upgrade that requires all nodes running the old software to switch to the new software. Hard forks are typically used to implement changes to the blockchain network’s consensus rules, improving network security, scalability, and functionality. The upcoming hard fork of the BNB Beacon Chain (BEP2) aims to achieve the following:
– To improve network security and prevent potential attacks on the network
– To optimize network performance and reduce transaction costs
– To introduce new features and functionality, such as improved validator rewards and cross-chain communication enhancements
Coin An’s Suspension of Services and its Impact on Users
Coin An has announced that it will suspend the recharge and withdrawal services of the BNB Beacon Chain (BEP2) network at 14:45 Beijing time on April 21, 2023. Users will not be able to recharge or withdraw BNB BEP2 tokens during this period. Once the network upgrade and hard fork are complete, Coin An will resume normal recharge and withdrawal services for BNB BEP2 tokens.
For users who hold BNB BEP2 tokens on Coin An, this suspension of services may result in some inconvenience, as they will not be able to transact with their tokens during the upgrade period. However, the suspension is necessary to ensure the smooth functioning of the network and to prevent any potential security vulnerabilities.
In conclusion, the upcoming network upgrade and hard fork of the BNB Beacon Chain is an important milestone for the Binance Smart Chain network. While Coin An’s suspension of services may cause some inconvenience for users, it is a necessary step to support the network upgrade and ensure its long-term stability and security.
FAQs
1. What is the BNB Beacon Chain?
The BNB Beacon Chain is a blockchain network used to support the operation and governance of the Binance Smart Chain (BSC).
2. What is a hard fork?
A hard fork is a software upgrade that requires all nodes running the old software to switch to the new software.
3. When will Coin An resume BNB BEP2 token services?
Once the network upgrade and hard fork are complete, Coin An will resume normal recharge and withdrawal services for BNB BEP2 tokens.
This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/16645.htm
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
#How zkSync Fell Victim To Twitter Account Theft: What You Need To Know
On April 16th, zkSync released a detailed report on Twitter account theft, stating that \”the impersonator forged their identity and claimed to be the official r
-
Starknet DAO Begins Decentralized Governance
It is reported that the Starknet DAO will begin the process of decentralized governance, and the community will vote for the first time to approve whether to la
-
Edgevana Integrates Aptos Ecosystem for Web3 Applications on Bare Metal Data Centers
It is reported that Edgevana, a bare metal data center aggregator and technology provider focused on Web3, has announced that it has integrated the Aptos ecosys
-
Ethereum Layer2 Lock-up Volume reaches $6.32 billion
According to reports, L2BEAT data showed that the total lock-up volume on Ethereum Layer2 was US $6.32 billion, up 14.9% in the past 7 days. Among them, the la…
-
The Impact of Declining A-Share Market and Blockchain Sector on Digital Currency
According to news, the A-share market opened with the Shanghai Composite Index at 3255.22 points, a decrease of 0.3%, the Shenzhen Composite Index at 11101.18 p
-
Ethereum (ETH) Witnesses a Surge in Trading Volume and Transactions
According to reports, Tokenview data showed that the trading volume of ETH on the chain was 1.4706 million ETH yesterday, up 4.12% from the average trading vol…
-
Digital Rupees: The Future of Transactions in India?
According to reports, two people familiar with the matter stated that the goal of the architect of the Retail Bank of India\’s Digital Currency (CBDC-R) is to ex
-
Finoa Secures Three Licenses from BaFin, Clearing the Path for Expansion
On February 28, it was reported that the encryption custodian Finoa had obtained three license approvals from the German financial regulator BaFin, including t…
-
What is the difference between P network and B network (which one is P network)
What is the difference between p network and b network? According to official information, what is the difference between p network and b network? P and B networks have two main purposes: firstly, to provide users with a better trading experience; The second is to securely store users’ assets in the network through blockchain technology Specifically, P’s Bitcoin mining mechanism is similar to the traditional internet model, but it adopts a centralized approach, making it difficult for ordinary investors to use. With the continuous improvement of technology and the emergence of more and more mainstream currencies, they themselves have a certain degree of security Which is the p networkAccording to official information, which is the p network pWebsite is a service organization dedicated to the field of digital asset trading, initiated and established by well-known figures in the currency industry. This platform is jointly operated by exchanges such as Coin and Bittrex, and currently has over a hundred enterprise users…
-
BTC Hits New Highs: An Overview
According to reports, the market shows that BTC has exceeded $27900 and is currently trading at $27902.2, with a daily increase of 1.25%. The market is highly volatile, so please d