Binance: the latest changes in the crypto exchange

Binance is one of the largest cryptocurrency exchanges in the world. Despite the problems with the American branch, against which the SEC filed a lawsuit, the global platform is actively developing. We tell you about the latest news and changes.

BNB Network Hard Fork

Yesterday it became known that this month an update called ZhangHeng will be carried out in the BNB crypto network. According to the developers, this will improve the security functionality for customers. 

However, the team is worried about network security, which remains a problem for most cryptocurrency markets.

The developers plan to hold a hard fork on July 19. It will be at 6-00 UTC. Note that it represents a constant adjustment of the crypto network due to software updates. At the same time, issue new BNB coins. Also, 2/3 of the validators in the chain will have to update their nodes to be able to process blocks after the update takes place.

The developers reported that the BEP-255 offer includes balance adjustments that users will be able to track in each block. At the same time, coordination will be required in order to detect problems in time. If an error occurs, the blockchain starts to "panic". As a result, the block creation process is interrupted.

The developers on GitHub wrote that in case of a reconciliation error, the blockchain stops the creation of new blocks. This will have a significant impact on subsequent platforms: bridges, investment, withdrawal of assets on exchanges. Therefore, decisive actions are required to protect the crypto network and its users. The main developers and the crypto community need to study this problem as quickly as possible.

Such an approach will help to retain the assets of users during exploits, such as bridge attacks.

API functions will be added to Earn Binance

A new API endpoint feature has been added to Earn Binance. These include Simple Earn and Ethereum staking. Thanks to these functions, users will be able to get the functionality of two sites at the same time.

These functions include:

  • Purchase of flexible products in Simple Earn.
  • Conducting blocking of products and Ethereum staking.
  • APR requests to study transaction history, offer data, etc.

However, more information about these functions has not yet been published. So users can check them themselves, since the API has already been launched on Earn Binance.

Wallet Maintenance

Today it also became known that the developers of Binance are going to carry out maintenance of the BNB Beacon Chain crypto wallet. The date was set for the 18th of this month.

Maintenance will be carried out within an hour. At the same time, replenishment and withdrawal of assets to the Bnb Beacon Chain (BEP2) will be temporarily suspended. The procedure will be temporary.

Note that it will be possible to trade cryptocurrencies and fiat in the wallet further. Technical work this functionality is not affected in any way.

Dutch users are allowed to transfer assets to Coinmerce

Binance decided to respond to the changes in services in the Netherlands. She decided to give users the opportunity to transfer assets. This will only affect users who live in the Netherlands. From today, clients will be able to transfer assets to Coinmerce.

At the same time, those users who accept the transfer of funds before the 16th of this year will receive an automatic transfer of funds on the 19th. However, those users who accept it after this period will be able to receive a transaction of their funds only every week. At the same time, the deadline is no longer specified. Note that the Binance guarantees the preservation of assets in safety. They will also be able to transfer their funds after the expiration of the specified period.

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