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Binance to Support IOTX and ZEC Network Upgrade

Binance shared a blog post on their Twitter account announcing their plans to support IOTX and ZEC network upgrades. They will be scheduling the IOTX upgrade at 23:00 UTC on 30th May. It will occur at a block height of 17,662,681. All transactions will hold from 30th May at around 22:00 (UTC). While the ZEC network will upgrade at the block height of 1,687,104. It will start at 23:30 UTC on 31st May. But before the upgrade, ZEC transactions will be on hold. https://twitter.com/binance/status/1531171187849560065?t=ehp82HBnVBqX7J5Iw8yK4A&s=19

IOTX and ZEC Network Upgrade

Due to network improvements and hard forks, there’ll be no interruption in IOTX and ZEC trades. The IoTeX (IOTX) network will be getting upgraded on 30th May. There will be a hard fork at a block height of about 17,662,681. The anticipated time will help make things easier for the user. IOTX and ZEC holders on Binance will have all technical issues taken care of by the exchange. These network updates and hard forks wouldn’t produce new tokens for IOTX and ZEC. Users won’t hear from the Binance team again about the network upgrade. But, they will get a notification once the updated networks are reliable enough to allow withdrawals and deposits for the two tokens.

IoTeX Network

IoTex is a robust blockchain network that pushes the IoT ecosystem to another height. It launched in 2017. IoTeX will become the blockchain that powers the IoT environment. The IoT industry is worth about $308.97B in 2020 to GlobeNewswire.  CAGR projections indicate that by 2028, the market will be worth around $1,855. IoT devices may collect and transmit vast volumes of data. IoTeX intends to be the basic blockchain that enables safe transactions.

   

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