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BTC $44389.02 (-7.2%)
ETH $3093.13 (-8.6%)
USDT $1.00 (0.05%)
BCH $558.78 (-10.%)
BSV $148.96 (-4.8%)
LTC $160.38 (-10.%)
BNB $374.97 (-8.1%)
ADA $2.07 (-12.%)
DOGE $0.21 (-11.%)

Binance Chain to Undergo Hard Fork, Upgrades

Binance Chain to Undergo Hard Fork, Upgrades

Binance Chain is set to do a hard fork upgrade at block height 109,999,000, which will be on August 28 at approximately 6:00 AM (UTC).

The said hard fork is necessary for the Binance Chain to commence with its Darwin upgrade. With this, Binance Chain will be able to fully introduce its Binance Coin (BNB) staking, as well as a cross-chain transfer feature. Also, a bug regarding the reward distribution is expected to be fixed.

According to an announcement on August 23, all Binance Chain full node operators will have to upgrade their software version to v0.8.0 so that they will not have any problem syncing with the upgraded validator nodes.

Specifically, full node operators will be able to prevent any system difficulties, continued disconnections, and transaction failures, on their end. They can check for the system upgrade instructions by clicking here.

Binance Chain wallet providers and service customers will also have to take note of the introduction of the said BNB staking and slashing, as well cross-chain transfer features.

Meanwhile, all changes that will occur during the system upgrade will not have any effect on the Binance decentralized exchange (DEX) users, as well as BNB coin holders, unless if they are Binance Chain node operators or Binance Chain wallet providers.

Binance dedicates its Binance Chain upgrade to scientist Charles Darwin, who shook the world with his “ pioneering works of building the theory of evolution and natural selection.”

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.