In an announcement released today by Binance, a BNB Smart Chain (BEP20) network “Euler” upgrade and a hard fork will occur at the BNB Smart Chain block height of 18,907,621 (around 2022-06-22 at 08:00 UTC).
In the announcement, Binance has said that it will fully support the hard fork. By end of June 22, validators and full node operators are expected to have upgraded their software to version 1.1.11.
During the upgrade and hard fork, deposits and withdrawals on the BNB Smart Chain network will be temporarily halted.
No issuance of any new token
Contrary to most hard forks that result in the creation and issuance of new tokens, the BNB Smart Chain (BEP20) network upgrade and a hard fork will not result in the issuance of any new tokens.
Traders are expected to continue running their trading business as usual despite the fact that deposits and withdrawals will be halted.
The deposits and withdrawals will resume once it is determined that the updated network is stable. Binance will notify users about the resumption of withdrawals and deposit in a separate announcement once the stability is achieved.
The post BNB Smart Chain Mainnet to have a scheduled hard fork update this week appeared first on Invezz.
Source: https://invezz.com/news/2022/06/20/bnb-smart-chain-mainnet-to-have-a-scheduled-hard-fork-update-this-week/