Binance Smart Chain, the native blockchain of popular cryptocurrency exchange Binance, has been suspended due to a “critical system upgrade.”
The Binance team made the announcement in a blog post on May 19, 2021, stating that the suspension would take place at 2:00 AM (UTC) and would last for approximately six hours.
During the suspension, all transactions on the Binance Smart Chain will be halted and users will not be able to deposit or withdraw tokens. However, trading on the Binance Exchange will not be affected.
NOTE: WARNING: Binance Smart Chain is NOT suspended. Any rumors that Binance Smart Chain is suspended are false and should not be believed. If you have any questions or concerns, please contact Binance directly.
After the suspension is lifted, the Binance team says that they will provide an update on the status of the network.
This is not the first time that Binance has had to suspend trading due to technical issues. In February 2021, the exchange had to halt withdrawals for several hours due to a “system upgrade.”
It is unclear what caused the need for this latest suspension, but it is likely related to the ongoing development of the Binance Smart Chain. The blockchain was launched in September 2020 and is still in its early stages of development.
The Binance team has not provided any further information about the nature of the system upgrade or what it entails. However, given the size and scale of the exchange, it is likely that this is a major upgrade that could have significant implications for the future of the Binance Smart Chain.
7 Related Question Answers Found
Binance Smart Chain is a decentralized exchange that allows for the exchange of digital assets and cryptocurrencies. The platform is designed to be highly secure and to provide a user-friendly experience. Binance Smart Chain also offers a wide range of features, including a built-in wallet, a decentralized marketplace, and a variety of tools to help users manage their portfolios.
Yes, Binance supports Smart Chain. Smart Chain is a blockchain platform that enables developers to build decentralized applications (dApps) that run on its own native blockchain, as well as on any other blockchain that is compatible with Ethereum’s Virtual Machine (EVM). Smart Chain is designed to be scalable and efficient, with the ability to process thousands of transactions per second.
Binance, one of the world’s largest cryptocurrency exchanges, is currently suspended. The suspension is due to “unscheduled maintenance”, according to the company. However, many users are speculating that the real reason for the suspension is due to a hack.
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. Binance is known for its low trading fees, fast transaction processing, and innovative features. One of Binance’s most unique features is its support for smart chains.
Binance Smart Chain is a new blockchain that is compatible with the Ethereum Virtual Machine (EVM). It is designed to run smart contracts and support a wide range of DeFi applications. Binance Smart Chain is also intended to offer high throughput and low transaction fees.
Binance Chain is a blockchain software system developed by Binance and its community. It is a decentralized exchange (DEX) platform that enables trading of digital assets. Binance Chain uses the native Binance Coin (BNB) as its base currency.
Binance Chain is a blockchain software system developed by Binance and its community. The native Binance Chain blockchain is a public, permissionless blockchain that supports the Binance DEX, a decentralized exchange. The Binance DEX allows for the trading of digital assets on a peer-to-peer basis.
