Binanceannounced that Terra Classic (LUNC) is supporting the upcoming network upgrade scheduled to occur today at approximately 14:15 UTC at block height 19,850,000. To support the upgrade process, Binance will be temporarily suspending deposits and withdrawals on the Terra Classic network starting at 13:15 UTC on the same day.
Trading Operations Will Continue Unaffected
Binance, Terra Classic He underlined that coin trading on its network will continue unaffected during this period and users will be able to continue trading without any interruption.
The exchange emphasized that it will meet all technical requirements for the upgrade, allowing users to focus solely on their trading activities without having to take any additional action.
Upgrade Aims to Improve Terra Classic’s Blockchain
Planned network upgrade for Terra Classic Blockchain It is part of their ongoing efforts to improve performance and security. As is known in the cryptocurrency world, network upgrades are performed to implement new features, increase security, and fix bugs that may be present in the current version. For blockchain users and investors, these upgrades are generally seen as positive moves that can increase the overall functionality and reliability of the network.
Binance’s upgradeThe decision to support Binance is based on its commitment to providing a seamless experience for its users. Binance will handle all technical aspects of the upgrade, allowing its customers to manage the process without the need to make any manual updates or changes. Once the network upgrade is complete and the network is deemed stable, Binance will not issue a separate announcement to the affected coinIt will reopen deposit and withdrawal transactions for ‘s, making the process easier for users.
On the other hand, the exchange emphasized that for those holding Terra Classic coins on Binance, all funds will remain safe during the upgrade. It added that the temporary suspension of deposits and withdrawals is a precautionary measure to ensure that no transactions are interrupted during the upgrade process.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
