Binance, a leading cryptocurrency exchange, will support an upgrade and hard fork for the DASH network. According to a blog post, this upgrade is set to happen on January 7, 2025, at block height 2,201,472. This change is important for DASH, a cryptocurrency focused on privacy.
Binance has Everything Under Control
To upgrade the DASH token, Binance will pause deposits and withdrawals starting at 19:00 (UTC) on January 7, 2025. To avoid interruptions, the exchange asked users to ensure the completion of any deposits or withdrawals before this time. Binance will handle all technical parts of the upgrade, making the transition smooth and easy.
Importantly, users can still buy, sell, and trade DASH even though deposits and withdrawals are temporarily suspended. Once the DASH network is stable after the upgrade, Binance will reopen deposits and withdrawals. The exchange will update users on the network’s status and tell them when to resume regular transactions.
Binance’s Unstoppable Dominance
Interestingly, Binance has supported lots of upgrades in the past. The exchange facilitated smooth trading and handled technical processes in the BCH hard fork some years ago. Just recently, Binance led other exchanges with over $75 trillion. This is less than a quarter of Binance’s volume, highlighting its huge influence on the ecosystem.
Despite the exchange’s numerous legal issues, market analysts have lauded Binance’s performance. Last year, the exchange co-founder Changpeng ‘CZ’ Zhao pleaded guilty and had to reign as chief executive officer. The exchange has continued striving for the best in the cryptocurrency industry.
A New Era of On-Chain Governance
Recall that Cardano, the Layer-1 blockchain, has finally executed the Chang hard fork, ushering in the “Voltaire Era.”
The execution of the hard fork at block 10,764,778 introduces a new on-chain governance system using Cardano’s native token, ADA. As reported by TheCoinRise, the Voltaire era signals true decentralization using the infrastructure introduced during the Shelley era. It will also facilitate Cardano’s network becoming self-sustaining.
As for the Chang hard fork, the first phase has gone live and ushered in the constitutional committee, overseeing the governance transition process. The next step involves introducing DReps. In this phase, ADA holders can delegate their voting power to an on-chain voting system in 2025, when full implementation will take off.
The post Binance to Support DASH Network Upgrade and Hard Fork appeared first on TheCoinrise.com.
