Binance Backs Major Ethereum Upgrade: Here's What You Need to Know
Binance supports Optimism's upgrade to make Ethereum better, ensuring smooth and secure trading for users.
Binance, a top cryptocurrency exchange, has said it will support the upcoming network upgrade of Optimism (OP), a system designed to improve Ethereum.
The upgrade is set to happen on July 12, 2023, at 11:00 PM. At 10 PM, the ability to deposit and withdraw OP tokens will be paused.
This upgrade will enhance the Optimism network's abilities and performance. However, OP trading on Binance will not be affected during the upgrade. Users can keep trading as usual.
Binance reassures its users that it will handle all technical needs for the upgrade for those holding OP tokens in Binance accounts. When the upgraded network is considered stable, Binance will restart OP deposits and withdrawals.
Binance remains committed to giving users a smooth trading experience, with no additional notifications for when things reopen.
Optimism is a key tool for scaling the Ethereum blockchain. It uses Optimistic Rollups technology to make transactions faster and cheaper. This is useful for those who create and use decentralized applications (dApps) on Ethereum.
Binance's support for the Optimism upgrade shows its commitment to staying current with new technology in the crypto world. Binance is equipped to manage user transitions during network upgrades, ensuring the security and stability of users' assets.
