Binance Extends Support to Montero Network Upgrade and Hard Fork

• Binance will support the Monero (XMR) network upgrade and hard fork.
• The upgrade and hard fork will take place on August 13, 2022.

• The upgrade will add support for Bulletproofs+, view tags, fee changes, and more

Binance announced today that it will support the popular cryptocurrency Monero (XMR) Network upgrade and hard fork. The exchange declared that the Monero network upgrade and a hard fork will occur at the Moreno block height of 2,688,888, approximately on August 13, 2022. Therefore deposits and withdrawals of the coin XMR will be suspended from 14:00 (UTC) on August 13.

The binance team further notified that the trading of XMR will not be affected during the network upgrade and hard fork. Alongside this, they also promised that the team will manage all technical requirements involved for users holding XMR in their Binance accounts.

As soon as the Binance team is confident the updated network is stable, they will enable XMR deposits and withdrawals to resume. However, they won’t send out another notification to users informing the same.

In a statement by Monero, they listed down the number of features that this upgrade will feature, which are

The complete list of changes and improvements has been released on Github along with the new binaries. Interested users can check the Monero-Project-Fluorine Fermi v.0.18.0.0 list for further understanding.

In other news, Binance and WazirX may soon resolve their ownership issue, and lawyers of both exchanges are coordinating to iron out the problem.

The issue stems from a dysfunctional arrangement between Binance CEO Changpeng Zhao and WazirX CEO Nischal Shetty. Binance had said in a blog that it had bought WazirX, but later revealed that shares were never transferred from the Indian crypto exchange’s parent company, Zanmai Labs. Sources revealed that the deal was never completed.