Binance Will Support the Network Upgrade & Hard Fork of Arweave (AR) and MultiversX (EGLD)

Leading cryptocurrency exchange, Binance, has announced its support for the upcoming network upgrade and hard fork for two popular blockchain projects, Arweave (AR) and MultiversX (EGLD). This move is taken to ensure a smooth and uninterrupted user experience during the upgrade process.

Arweave (AR)

Arweave, a permanent decentralized data storage platform, will undergo a network upgrade and hard fork at block height 1,602,350. It is expected to occur on February 3, 2025, at 14:00 UTC. This upgrade aims to enhance network performance, scalability, and security. Binance will fully support this upgrade and will handle all necessary technical aspects.

MultiversX (EGLD)

MultiversX, a high-performance blockchain designed for decentralized applications (dApps), will also undergo a network upgrade at epoch 1650. It is expected to occur on February 4, 2025, at 23:30 GMT+8. This upgrade will bring improvements in transaction speed, efficiency, and smart contract functionality. Binance will also support this upgrade and ensure a seamless transition for its users.

Binance Support

Binance has confirmed that they will suspend deposits and withdrawals of AR and EGLD tokens temporarily during the upgrade period to ensure the security of user funds. Users are advised not to make deposits or withdrawals during this time. Once the upgrade is complete, Binance will reactivate deposits and withdrawals as usual.

The Importance of Binance Support

Binance's support for this network upgrade and hard fork is crucial for the Arweave and MultiversX communities. It demonstrates the exchange's commitment to supporting the growth and development of the blockchain ecosystem. By facilitating a smooth transition, Binance helps ensure that users can continue to enjoy the services and features offered by this platform without disruption.

Conclusion

Binance's announcement of support for the network upgrade and hard fork of Arweave and MultiversX is positive news for both projects and their communities. It reaffirms Binance's role as a key player in the cryptocurrency industry and its commitment to providing a reliable and secure platform for its users.