Binance, one of the leading cryptocurrency exchanges, has announced its support for the upcoming Kaia (KLAY) network upgrade and hard fork. According to the official announcement on Binance, the exchange will temporarily suspend deposits and withdrawals of KLAY tokens starting from approximately 2024-08-29 00:30 (UTC).

Network Upgrade and Hard Fork Details

The Kaia network upgrade and hard fork are scheduled to occur at the block height of 162,900,480, or around 2024-08-29 01:30 (UTC). This upgrade aims to enhance the network’s performance and security, ensuring a better user experience for all participants.

Impact on Trading and User Actions

Binance has assured its users that the trading of KLAY tokens will not be affected during the network upgrade. The exchange will manage all technical requirements necessary for the upgrade, relieving users from any manual actions. Once the upgraded network is deemed stable, deposits and withdrawals will be reopened without the need for a further announcement.

Additional Information

Binance has highlighted that there may be discrepancies in translated versions of the announcement and advises users to refer to the original English version for the most accurate information. For more technical details, users can check the project’s release on GitHub.

This move follows Binance’s consistent efforts to support network upgrades and hard forks, ensuring that their users benefit from the latest developments in blockchain technology. The exchange’s proactive approach helps maintain a secure and efficient trading environment for all its users.

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