Binance, one of the leading cryptocurrency exchanges, announced that it supports the network upgrade and Hard Fork of the upcoming Horizen (ZEN) altcoin.
Cryptocurrency Exchange Binance Will Support Network Upgrade And Hard Fork Of Altcoin Horizen (ZEN)
The network upgrade and Hard Fork are scheduled to occur at block height 1,363,115 Horizen, which is predicted to occur around 16:00 on 2023-06-07.
During the network upgrade and Hard Fork, ZEN deposits and withdrawals will be temporarily suspended as a precaution. Suspension is expected to begin at approximately 2023-06-07 15:00.
However, it is important to note that trading in ZEN will not be affected during this time. Users will be able to continue trading ZEN without any interruptions.
Binance is committed to providing a smooth transition for its users and will meet all necessary technical requirements regarding network upgrade and Hard Fork.
Users with ZEN in their Binance account do not need to take any additional action as Binance will manage the process on their behalf.
It is worth noting that the network upgrade and Hard Fork will not result in the generation of new ZEN tokens. Instead, it aims to increase the functionality and performance of the Horizen network.
Considering the upgraded network is stable and secure, Binance will reopen deposits and withdrawals for ZEN.
However, users will not receive a separate notification about the re-opening of these services. Users are encouraged to stay up to date with Binance's official channels and announcements for the latest information.
Binance aims to maintain its reputation as a trusted exchange that prioritizes user convenience and security by assisting with the technical aspects of the upgrade and providing a seamless experience.
*Not investment advice.
