Injective Network Upgrades and Hard Forking Supported by Coin Security

03/17/2023 13:00 • Tech Ticker • 117 views

According to reports, Coin Security announced that it will support Injective (INJ) network upgrades and hard forking. INJ coin charging and withdrawal will be suspended around 22:00 Beijing time on March 17, and INJ transactions will not be affected during network upgrades and hard forks. The Injective (INJ) network upgrade and hard branching will take place in block 28864000. This upgrade and hard fork will not create new tokens, and the INJ charging service will be reopened after the upgrade is completed.

Coin security will support Injective network upgrades and hard forking, and charging and withdrawing coins will be suspended around 22:00 today

Analysis based on this information:

Coin Security recently announced its support for Injective (INJ) network upgrades and hard forking. Around 22:00 Beijing time on March 17, INJ coin charging and withdrawal will be suspended, but INJ transactions will not be affected during the upgrade and hard fork. The INJ network upgrade and hard branching will happen in block 28864000, which will not create any new tokens. After completion of the upgrade, the INJ charging service will be reopened.

A network upgrade essentially refers to updates to the system software that run on the blockchain network. These upgrades are crucial to the efficient operation of the network, and without them, performance may be impacted. Hard forking, on the other hand, is a feature of most blockchain currencies in which an existing blockchain splits into two parallel strands or chains. Hard forks typically occur when there is a major update to the existing blockchain code.

Coin Security’s support for Injective’s network upgrade and hard forking means that the exchange is prepared to integrate these new changes into its trading platform. By doing so, coin security can provide its users with uninterrupted services and minimize any disruption that may occur during the upgrade period.

The timing of the upgrade and hard forking is worth noting, as doing so during a period of low trading activity typically has less of an impact on users’ ability to transact on the platform. Moreover, the fact that the upgrade and hard fork won’t lead to the creation of new tokens means that there won’t be any inflationary impact on the value of existing INJ tokens.

In summary, Coin Security’s support for Injective’s upgrades and hard forks provides a clue for traders and investors that these upgrades are significant, and that they are likely to signal an improvement in the platform’s overall performance. The suspension of INJ charging and withdrawal is a temporary inconvenience, but it is a necessary step for the network upgrade to proceed smoothly. While hard forking is not always well-received by investors, it is a relatively common feature of the blockchain space and usually signals an improved system that should be welcomed by traders and investors alike.

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