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BNB Smart Chain Upgrade and Hard Fork to Happen on Aug. 30: What to Know

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Mon, 28/08/2023 - 16:35
BNB Smart Chain Upgrade and Hard Fork to Happen on Aug. 30: What to Know
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On Aug. 30, 2023, Binance (BNB), the largest cryptocurrency exchange, will temporarily suspend deposits and withdrawals of all tokens issued on the top of BNB Smart Chain. The exchange is supporting the activation of Hertz, one of the most anticipated network hard forks of 2023. Its eight updates mirror the crucial EIPs of Ethereum's network hard forks London and Berlin.

Crypto exchange Binance (BNB) to support Hertz upgrade of BSC: See timeline

BNB Smart Chain network upgrade and hard fork dubbed Hertz will happen at the block height of 31,302,048. The block will be added at approximately 7:30 a.m. (UTC) on Aug. 30, 2023. As such, deposits and withdrawals of all tokens on BNB Smart Chain will be paused 15 minutes before hard fork activation time.

This statement was published on Binance's (BNB) official website and via social media communication channels. No new token will go live as a result of the expected hard fork. Once the post-Hertz network is stable, Binance (BNB) well reopen deposits and withdrawals without further notification.

Meanwhile, the trading of tokens available on Binance's smart contracts network BSC will not be affected during the network upgrade and hard fork activation procedure.

The upgrade is the second part of the v1.2.9 release of BNB Smart Chain (BSC) network software. Its first part, Plato, was successfully activated on Aug. 10.

Related

As covered by U.Today previously, Binance (BNB) exchange and its core native utility asset, Binance Coin (BNB), are the hottest topics of discussion in the community, based on automated social media monitoring data by Santiment.

London, Berlin upgrades coming to BNB Smart Chain

In general, the upcoming Hertz hard fork is designed to port some elements of London and Berlin upgrades from Ethereum (ETH) to BNB Smart Chain in order to advance cross-network compatibility between the two blockchains.

The list of expected Berlin updates includes BSC versions of EIP 2565, EIP 2718, EIP 2929 and EIP 2930. These changes optimize the gas mechanisms of the network and introduce Optional Acess Lists.

London updates (EIP 3198, EIP 3541 and so on) will introduce a new EVM opcode (BASEFEE) and prevent BSC developers from deploying certain types of smart contracts.

Related

Today, Binance (BNB) announced the delisting of some altcoin pairs from its AMM-powered exchange module Liquid Swap.

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