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Binance to Support Zilliqa Network Upgrades – What You Need to Know

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On April 21st, according to official sources, Binance announced that it will support Zilliqa (ZIL) network upgrades and hard forking. It is reported that the Zilliqa (ZIL) network

Binance to Support Zilliqa Network Upgrades - What You Need to Know

On April 21st, according to official sources, Binance announced that it will support Zilliqa (ZIL) network upgrades and hard forking. It is reported that the Zilliqa (ZIL) network upgrade and hard fork will be carried out at 16:00 Beijing time on April 25, 2023, and ZIL will suspend recharging starting from approximately 15:00 on April 25. ZIL’s transactions will not be affected during network upgrades and hard forks.

Binance will support Zilliqa (ZIL) network upgrades and hard forking, with charging suspended from 15:00 on April 25th

If you’re an investor in Zilliqa (ZIL), you may have heard the news that Binance is set to support the upcoming Zilliqa network upgrades and hard forking. This announcement was made by official sources on April 21st, 2023. According to the official statement, the network upgrade and hard fork are scheduled to take place on April 25, 2023, at 16:00 Beijing time. In this article, we’ll take a closer look at what this means for ZIL investors and what they can expect.

What are Zilliqa Network Upgrades and Hard Forks?

Before we dive into the details of Binance’s support for ZIL’s network upgrades and hard forking, let’s first understand what these terms mean. A network upgrade is essentially a change or an update made to a blockchain network to enhance its performance or to add new features. A hard fork is a type of network upgrade that results in a new version of the blockchain being created. This can happen when there is a disagreement within the community on how the network should be governed or when there is a need for a major change in the network’s infrastructure.

What You Need to Know About Zilliqa’s Network Upgrades

Now that we have a basic understanding of what network upgrades and hard forks are let’s move on to what you need to know about Zilliqa’s upcoming network upgrades. According to the official statement, ZIL’s network will undergo a major upgrade on April 25, 2023, at 16:00 Beijing time. During this time, ZIL will be performing a hard fork, which will result in a new version of the Zilliqa blockchain being created.

What to Expect as a ZIL Investor

If you’re a ZIL investor, you should be aware of what to expect during this period. Firstly, the team has announced that they will suspend recharging from approximately 15:00 on April 25, 2023. This means that you won’t be able to deposit or withdraw ZIL during this time. However, ZIL’s transactions will not be affected, so you can still make transactions as usual. It’s important to note that once the network upgrades and hard fork are complete, you’ll need to update your ZIL wallet to the latest version to continue transacting on the network.

Binance’s Support for Zilliqa’s Network Upgrade

Now, let’s move on to Binance’s support for Zilliqa’s network upgrades and hard forking. Binance has announced that it will support ZIL’s hard fork and network upgrades. This means that if you hold ZIL on Binance, you don’t have to worry about anything during this time. Binance will handle everything for you, and you can continue trading ZIL as usual.

Conclusion

In conclusion, Zilliqa’s network upgrades and hard forking can be seen as a positive development that will help to enhance the performance of the network. As a ZIL investor, you should be aware of the upcoming changes and take the necessary steps to ensure that your ZIL holdings aren’t affected. Binance’s support for ZIL’s hard fork and network upgrades is great news for investors, as it ensures a smooth transition during this period.

FAQs

Q: What is Zilliqa (ZIL)?
A: Zilliqa is a high-performance blockchain platform that aims to solve the scalability issues faced by traditional blockchain networks.
Q: What is a hard fork?
A: A hard fork is a type of network upgrade that results in a new version of the blockchain being created.
Q: Will I be able to trade ZIL during the network upgrade and hard fork?
A: Yes, you can trade ZIL as usual during this period, but you won’t be able to deposit or withdraw it.

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