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Binance Announces Support for Cardano Hard Fork Alonzo

By Daily EditorBitcoin

Binance will temporarily halt deposits and withdrawals for Cardano holders this Sunday while the update occurs.


Binance, the largest digital asset exchange by trading volume, announced that it will support the next upgrade Alonzo from Cardano.

ADA holders will not be able to temporarily deposit or withdraw cryptocurrency while it occurs. However, trade will not be affected by the hard fork.

Alonzo is considered the most important update of Cardano to date, which will allow launching smart contracts on the proof-of-stake blockchain. It will take place officially this Sunday, September 12, around 21:44 UTC. Therefore, ADA deposits and withdrawals They will be suspended half an hour before, starting on September 12, 2021 at 21:14 (UTC).

Binance It will resume deposits and withdrawals as soon as the update is deemed stable, he said.

According to the data of CryptoMarkets, Cardano (ADA) has a significant increase of 9.47% in the last 24 hours and a price at 6:00 am New York of USD $ 2.58. The cryptocurrency has had an excellent performance this year, with gains, for those who bought on January 1, over 1,319%. The volume of operations in the last day is 15% higher than the average for the month.

Upon Alonzo

In a broadcast in August, the CEO of Cardano, Charles Hoskinson, explained two important aspects of the update Alonzo: The first is the “combiner” that will grant the nodes the new capabilities associated with Alonzo, and the second has to do with the infrastructure around that node, which will allow to execute code both outside the network and within it, with which the Dapps (decentralized applications) to Cardano.

Sources: Binance, Utoday, CryptoMarkets, file

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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