Binance has announced a temporary suspension of Shentu (CTK) deposits and withdrawals to support a critical network upgrade and hard fork scheduled for July 22.
This planned pause ensures the security and integrity of user funds while enabling Binance to align its systems with the updated Shentu blockchain protocols.
According to COINOTAG, such proactive measures by major exchanges like Binance are essential to maintain network stability and user confidence during blockchain transitions.
Binance temporarily suspends Shentu (CTK) deposits and withdrawals on July 22 to facilitate a vital network upgrade, ensuring enhanced security and seamless integration.
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On July 22 at 12:00 UTC, Binance will temporarily halt all deposits and withdrawals of Shentu (CTK) tokens. This suspension is a standard operational procedure designed to accommodate a significant network upgrade and hard fork on the Shentu blockchain. Such interruptions are common in the crypto industry, serving as a safeguard to prevent transaction errors, lost funds, or network congestion during critical protocol changes. Binance’s decision reflects its commitment to safeguarding user assets and ensuring a smooth transition to the upgraded network environment.
Network upgrades and hard forks are fundamental to the evolution of blockchain projects like Shentu. These events introduce improvements ranging from enhanced security measures to increased transaction throughput. For Shentu, which focuses on blockchain security, the upcoming upgrade is particularly significant. It aims to patch vulnerabilities, optimize performance, and potentially introduce new features that strengthen the network’s resilience. By temporarily suspending CTK transactions, Binance helps mitigate risks associated with the transitional phase, ensuring that users’ funds remain secure and accessible post-upgrade.
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Source: https://en.coinotag.com/binance-may-temporarily-suspend-shentu-ctk-deposits-and-withdrawals-ahead-of-network-upgrade/