Binance Will Support Network Upgrade and IoTeX (IOTX) Hard Fork on April 3

Bittime - Binance, aleading crypto asset exchange platform , announced its support for the IoTeX (IOTX) network upgrade and hard fork which will take place on April 3, 2024.

What is IoTeX Hard Fork?

A hard fork is a significant event in blockchain history where the network splits into two forks. In the case of IoTeX, the hard fork will introduce several significant changes to the protocol, including:

• Scalability improvements: The IoTeX network will scale to allow more transactions per second, increasing efficiency and throughput.
• Security improvements: The hard fork will introduce new security features to protect the network from attacks and exploits.
• Better decentralization: The IoTeX consensus mechanism will be optimized to increase decentralization and community participation.

Check Today's Crypto Market:

Suspension of IOTX Deposits and Withdrawals

In connection with the upgrade and hard fork, Binance will suspend IOTX token deposit and withdrawal services at 08:00 UTC on April 3. This suspension is carried out to ensure security and a smooth upgrade process.

Also Read: What is IoTeX (IOTX)?

Network Upgrade and Hard Fork Details

The IoTeX project team is scheduled to perform a network upgrade and hard fork at block height 29,275,561 (estimated around 08:52 UTC on April 3). This upgrade aims to improve the scalability, security and functionality of the IoTeX network.

Also Read How to Buy Crypto:

Impact of Hard Fork on Binance Users

Binance users who have IOTX tokens in their accounts do not need to take any action. Binance will automatically handle upgrades and hard forks, and users' IOTX balances will remain safe. Once the hard fork is complete, IOTX holders will receive the same number of tokens on the new network.

The IoTeX network upgrade and hard fork are important steps to improve the scalability, security, and decentralization of the network. Binance is committed to supporting the IoTeX community and ensuring a smooth transition during the upgrade process.

Check Crypto Prices Today:

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read: 

Binance vs Coinbase Comparison

Binance Launches Crypto Exchange Service in Thailand

Binance Launchpad and Binance Launchpool, What's the Difference?

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.