Cryptocurrency exchange Binance has reduced the number of confirmations required for deposit & withdrawal on both Bitcoin and Ethereum blockchains, an official announcement states.
It's expected that the reducing of block confirmation should increase the exchange's operational supply power.
From now, the exchange will require 1 block confirmation required for deposits (down from 2 block confirmations previously) and 2 block confirmations required for withdrawals for the BTC network.
For ERC-20-based & ETH, the exchange will require 12 block confirmations required for both deposits and withdrawals (down from 30 block confirmations previously).
Previously Binance changed USDT deposit & withdrawal addresses from OMNI-based to ERC20-based addresses.
Earlier iHodl reported that Binance plans to launch its own futures platform in the coming months.
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