Binance, a popular cryptocurrency exchange, has announced that it intends to support the upgrades and hard forks on the BNB Beacon Chain (BEP2) and Beam (BEAM) Network.
The BNB Beacon Chain network is expected to be upgraded at a block height of 264,000,000. Based on estimates, this should occur on 2022-09-02 06:00 (UTC).
This upgrade has been anticipated for some time, and the exchange has stated that for this to work properly, all deposits and withdrawals on the BNB Beacon Chain (BEP2) will be suspended. As of 2022-09-02 05:00 (UTC), transactions will be halted.
Binance stated that they believe the Beam (BEAM) network will be upgraded or hard forked when the block height reaches 1,920,000. Based on estimates, this should happen around 2022-09-02 09:00 (UTC). Similar to BNB Beacon Chain, deposits and withdrawals will be suspended on the network from 2022-09-02 08:00 (UTC).
As part of the announcement, the exchange stated,
“The trading of tokens available on BNB Beacon Chain (BEP2) and BEAM network will not be affected during the network upgrades and hard forks.”
Users are not expected to do anything during the upgrade, or hard fork as “Binance will handle all technical requirements involved for all users.”
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