Binance Announces Support for the Upcoming Ethereum Hard Fork
Shutterstock
Main page News, Ethereum, Exchange, Binance, Cryptocurrency Exchanges, Hard Fork

Cryptocurrency exchange Binance has announced it will support the upcoming upgrade of the Ethereum blockchain network.

The so-called «Muir Glacier» network upgrade is scheduled to occur on 2020/01/02 (UTC) at the block height of 9,200,000.

"Please leave sufficient time for deposits to be processed in full prior to the above ETH network block height. We will handle all technical requirements involved for all users holding ETH in their Binance accounts," the exchange said in the official announcement.

The exchange highlights that the upcoming upgrade will not result in a new token being created.

Muir Glacier aims to delay the activation of the so-called «Complexity Bomb». In order not to miss the update, Ethereum node holders are advised to update the software.

U.S. District Court Denies Bail to Ethereum Scientist

The complexity bomb is a complementary Proof-of-Work algorithm for controlling the complexity of mining, exponentially increasing its value every 100 thousand blocks. By increasing the time spent in blocks, the complexity bomb is also designed to motivate participants in the Ethereum ecosystem to switch to the Proof-of-Stake (PoS) algorithm.

Previously iHodl reported that those users who use crypto exchanges, web wallet services, mobile wallet services or hardware wallets do not need to take additional steps unless they are requested to do so.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close