The largest cryptocurrency exchange, Binance (BNB), will momentarily halt deposits and withdrawals for all tokens created on top of the BNB Smart Chain on August 30, 2023. Hertz, one of the most anticipated network hard forks of 2023, is supported by the exchange. Its eight updates correspond to the important EIPs of the London and Berlin hard forks of the Ethereum network.
Crypto exchange Binance (BNB) to support Hertz upgrade of BSC
Hertz, a network update and hard fork for the BNB Smart Chain, will take place at block height 31,302,048. On August 30, 2023, about 7:30 a.m. (UTC), the block will be added. As a result, 15 minutes prior to the hard fork activation time, deposits and withdrawals of all tokens on BNB Smart Chain will be suspended.
#Binance will support the #BNB Smart Chain (BEP20) network upgrade and hard fork.
— Binance (@binance) August 28, 2023
This announcement was made public on the official website of Binance (BNB) and through social media communication channels. The anticipated hard fork won’t result in any new tokens going online. Binance (BNB) will immediately reopen deposits and withdrawals once the post-Hertz network is stable.
During the network upgrade and hard fork activation process, trading of tokens available on Binance’s smart contracts network BSC will not be impacted.
The upgrade is the second component of the BNB Smart Chain (BSC) network software’s v1.2.9 release. On August 10, its first component, Plato, was successfully turned on.
According to automated social media monitoring data by Santiment, which was previously published by U.Today, the Binance (BNB) exchange and its primary native utility asset, Binance Coin (BNB), are the most talked-about subjects in the neighborhood.
London, Berlin BNB Smart Chain Upgrades
In order to promote cross-network compatibility between the two blockchains, the planned Hertz hard fork is intended to migrate some components of the London and Berlin upgrades from Ethereum (ETH) to BNB Smart Chain.
EIP 2565, EIP 2718, EIP 2929, and EIP 2930 BSC versions are among the anticipated Berlin updates. These modifications enhance the network’s gas mechanisms and include optional access lists.
A new EVM opcode (BASEFEE) will be introduced as a result of London upgrades (EIP 3198, EIP 3541, and others) that will restrict BSC developers from deploying specific kinds of smart contracts.
Some alternative coin pairs have been removed from Binance’s (BNB) Liquid Swap exchange module, which is powered by AMM.
