Binance announces support for Shentu (CTK) and Conflux Network (CFX) network upgrades and hard forks with specific deposit and withdrawal suspension timelines to improve scalability and security.
Key Points
- Binance announces support for network upgrades and hard forks for Shentu (CTK) and Conflux Network (CFX) with specific timelines for deposits and withdrawals suspension.
- Shentu (CTK) upgrade and hard fork set for September 6, 2023, at 13:30 UTC; CTK deposits and withdrawals suspended from 12:30 UTC on the same day.
- Conflux Network (CFX) upgrade at epoch 79,050,000 on September 7, 2023, at 16:00 UTC; CFX deposits and withdrawals temporarily halted.
- Binance will handle technical requirements, and resumption of services will occur once the upgraded networks are stable, with no new token creation.
Cryptocurrency exchange Binance has announced its support for the network upgrades and hard forks scheduled to take place for Shentu (CTK) and Conflux Network (CFX).
The upgrades have specific timelines for suspending and resuming deposits and withdrawals for the respective tokens.
The Shentu (CTK) network upgrade and hard fork are set to occur at block height 14,875,800, approximately on September 6, 2023, at 13:30 UTC. Binance will suspend deposits and withdrawals of CTK starting from 12:30 UTC on the same day.
Trading of CTK will not be affected during the upgrades.
🔄 Binance will support upgrades and hard forks of the Shentu Network #CTK (September 6th) and Conflux Network #CFX (September 7th).
— FortuneNodeOfficial (@Fortunenode_) September 4, 2023
Conflux Network Upgrade Details
Similarly, the Conflux Network (CFX) will undergo its network upgrade and hard fork at the Conflux epoch of 79,050,000.
Deposits and withdrawals for CFX will be temporarily halted starting from September 7, 2023, at 16:00 UTC. Trading for CFX will continue uninterrupted.
Binance has assured its users that it will handle all technical requirements for users holding CTK and CFX in their Binance accounts.
It is important to note that neither of the network upgrades will result in the creation of new tokens.
Resumption of Services
Once Binance assesses the upgraded networks to be stable, deposits and withdrawals for both CTK and CFX will be reopened. The exchange will not notify users in a further announcement regarding the resumption of these services.
For those interested in more technical details, the upgrades are associated with Shentu Release v2.7.2 and Conflux v2.3.0 Hardfork Upgrade. Voting outcomes for these proposals have also been documented.
Concluding Thoughts
The network upgrades for Shentu and Conflux Network are crucial as they aim to improve scalability, security, and overall performance.
Binance’s support provides assurance for token holders, but users should be aware of the timelines to effectively manage their assets.
