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Binance to Support Flow (FLOW) and Shentu (CTK) Network Upgrades

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On April 24th, Binance announced that it will support Flow (FLOW) and Shentu (CTK) network upgrades. During the network upgrade period, the transactions between FLOW and CTK will n

Binance to Support Flow (FLOW) and Shentu (CTK) Network Upgrades

On April 24th, Binance announced that it will support Flow (FLOW) and Shentu (CTK) network upgrades. During the network upgrade period, the transactions between FLOW and CTK will not be affected. The Flow (Flow) network upgrade will take place from 15:00 (UTC) on April 26, 2023. Flow’s deposits and withdrawals will be suspended from 14:00 (UTC) on April 26, 2023. The Shentu (CTK) network upgrade will be carried out at a height of 12926000 in the Shentu block, or approximately at 00:00 am (UTC) on April 26, 2023. CTK’s deposits and withdrawals will be suspended from 23:00 (UTC) on April 25, 2023.

Binance will support Flow (FLOW) and Shentu (CTK) network upgrades

Introduction

On April 24th, Binance announced that it will be supporting the network upgrades of two cryptocurrencies, Flow (FLOW) and Shentu (CTK). This is an important development for traders and investors who are holding these two cryptocurrencies on the exchange. In this article, we will discuss the details of the network upgrades, how they will impact the transactions, and the timeline of the upgrades.

What are Flow (FLOW) and Shentu (CTK)?

Before we delve into the specifics of the network upgrades, let us first understand what these two cryptocurrencies are. Flow (FLOW) is a blockchain network that is designed to support digital collectibles, non-fungible tokens (NFTs), and decentralized applications (dApps). The network is built on the Proof-of-Stake (PoS) consensus mechanism.
On the other hand, Shentu (CTK) is a blockchain network that is based on the Tendermint consensus mechanism. The network is designed to provide security and privacy to decentralized finance (DeFi) applications. The network is also built on the PoS consensus mechanism.

Details of the Network Upgrades

As mentioned earlier, Binance will be supporting the network upgrades of FLOW and CTK. It is important to note that during the network upgrade period, the transactions between FLOW and CTK will not be affected. Let us now discuss the specifics of each network upgrade.

Flow (FLOW) Network Upgrade

The Flow (FLOW) network upgrade will take place from 15:00 (UTC) on April 26, 2023. During this time, the deposits and withdrawals of FLOW will be suspended from 14:00 (UTC) on the same day. It is important for traders and investors to note that they will not be able to deposit or withdraw FLOW during this time.

Shentu (CTK) Network Upgrade

The Shentu (CTK) network upgrade will be carried out at a height of 12926000 in the Shentu block, which is expected to occur approximately at 00:00 am (UTC) on April 26, 2023. The deposits and withdrawals of CTK will be suspended from 23:00 (UTC) on April 25, 2023. Traders and investors should also take note that they will not be able to deposit or withdraw CTK during this time.

Conclusion

In conclusion, the support of Binance for the network upgrades of Flow (FLOW) and Shentu (CTK) is a welcome development for traders and investors who are holding these cryptocurrencies on the exchange. It is important for traders and investors to take note of the timeline of the network upgrades and the suspension of deposits and withdrawals during the upgrade period.

FAQs

1. Will there be any changes to the value of FLOW and CTK during the network upgrades?
No, the upgrades will not have any impact on the value of FLOW and CTK.
2. How long will the suspension of deposits and withdrawals last?
The suspension of deposits and withdrawals will last for approximately 24 hours for FLOW and CTK.
3. What happens if I deposit or withdraw FLOW or CTK during the upgrade period?
Deposits and withdrawals during the upgrade period may result in the loss of funds. It is advised that traders and investors should not deposit or withdraw FLOW or CTK during the upgrade period.

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