Cryptocurrency exchange Binance has announced that it will support the network upgrade of two altcoins that will take place in the coming days.
Cryptocurrency Exchange Binance Will Support Network Upgrade of Altcoins Flow (FLOW) And Shentu (CTK)
The first is for the Flow (FLOW) network, which will take place on April 26, 2023 at 18:00.
Deposits and withdrawals to FLOW will be temporarily suspended from 5 pm, approximately one hour before the network upgrade.
The second upgrade is for the Shentu (CTK) network and will occur at block height 12,926,000 Shentu, or approximately at 03:00 on April 26, 2023.
Deposits and withdrawals to CTK will be suspended from 02:00 on April 25, approximately one hour before the upgrade.
Network upgrades are essential for blockchain projects as they bring new features, increase network efficiency, and improve the security of the network.
During network upgrades, nodes update their software to the latest version to stay in consensus with the network.
Binance is a well-known cryptocurrency exchange that offers a wide variety of services, including trading, staking, and lending.
The platform takes the security of its users' assets seriously and ensures that all network upgrades are thoroughly tested before they are implemented.
Users holding FLOW or CTK on Binance are advised to be mindful of their upgrade schedules and avoid depositing or withdrawing these tokens during upgrade periods to avoid potential asset loss.
Once the upgrades are complete, Binance will resume deposits and withdrawals of the respective tokens as soon as possible.
*Not investment advice.