In a significant move for the cryptocurrency community, OKX, a global leader in digital asset exchanges, has announced its support for the upcoming Ethereum Dencun mainnet upgrade. This marks a pivotal moment for Ethereum, as the network continues its journey towards increased scalability and efficiency. The Dencun mainnet upgrade, a part of Ethereum’s ambitious “The Surge” roadmap, is scheduled to take place at approximately 1:55 PM UTC on March 13, 2024.
To facilitate this major network upgrade and the associated hard fork, OKX will suspend all deposits and withdrawals for Ethereum network tokens, including ETH, Arbitrum (ARB), Optimism (OP), zkSync Era, Base Protocol (BASE), Starknet (STRK), Linea (ETH), Polygon (MATIC), Metis (METIS), and MXC (MXC) networks. The suspension will commence at 1:20 PM UTC on the day of the upgrade, ensuring a smooth transition and minimizing potential disruptions for users.
OKX Prepares for Ethereum Scalability Leap
OKX has reassured its users that trading activities for the affected tokens will continue uninterrupted during the upgrade period. The exchange has taken steps to handle all technical requirements associated with the Dencun upgrade, ensuring that users do not need to take any action. Deposits and withdrawals will resume once the upgraded Ethereum network has been deemed stable.
The Dencun upgrade addresses key scalability issues faced by the Ethereum network, including bottlenecks in transaction throughput and data management. This upgrade follows the successful implementation of previous enhancements such as the Merge and Shanghai upgrades. Among the various Ethereum Improvement Proposals (EIPs) included in the Dencun upgrade, EIP-4844 has been highlighted for its potential to significantly improve network efficiency.
OKX, renowned for its fast and reliable crypto services, serves over 50 million users worldwide. The platform is well-known for its commitment to innovation, security, and transparency, frequently publishing its Proof of Reserves to uphold trust among its user base. Additionally, OKX has established prominent partnerships with entities such as Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, enhancing the fan experience through new engagement opportunities.
The latest offering from OKX, the OKX Wallet, aims to broaden the horizons for users interested in NFTs, the Metaverse, GameFi, and DeFi tokens. As the Ethereum network embarks on this significant upgrade today, OKX continues to play a crucial role in supporting and facilitating the evolving landscape of Web3 and digital finance.
Source: https://blockchainreporter.net/okx-announces-support-for-ethereum-dencun-mainnet-upgrade/