Binance will support the Terra Classic (LUNC) network upgrade, temporarily suspending deposits and withdrawals at 13:15 local time, while trading remains unaffected.
Binance declared its support for the impending Terra Classic (LUNC) network upgrade, which is scheduled to take place at a block height of 19,850,000 at approximately 14:15 local time.
Beginning at 13:15 on the same day, Binance will momentarily halt coin deposits and withdrawals from the Terra Classic network in order to expedite this upgrade process.
Trading Operations Will Remain Uninterrupted
Binance stressed that there will be no disruptions to trade on the Terra Classic network during this time, allowing users to carry on with their transactions.
The exchange emphasized that it will fulfill all technical needs associated with the upgrade, freeing customers to concentrate only on trading activity and requiring no more action on their part.
Seeking to Enhance the Blockchain of Terra Classic
The intended network update is a component of continuous initiatives to improve the security and functionality of the blockchain used by Terra Classic. Network upgrades are used in the cryptocurrency space to add new functionality, enhance security, and address issues.
For blockchain users and investors, these updates are frequently viewed as beneficial actions that can improve overall functionality and dependability.
Binance’s resolve to give its users a flawless experience is the reason behind its decision to support the update. Binance will make sure that users don’t have to make any manual updates or adjustments during the process by taking care of all the technical parts of the upgrade.
Without further announcing, Binance will resume accepting deposits and withdrawals for the impacted coins as soon as the upgrade is finished and the network is judged stable.
Additionally, the exchange gave consumers confidence that their money would be secure if they have Terra Classic coins on Binance while the upgrade is happening. In order to prevent any disruptions to transactions during the upgrade process, deposit and withdrawal activities have been temporarily suspended.
