A critical statement came from the cryptocurrency exchange Binance today for two altcoins. In its statement, Binance explains its commitment to facilitating upcoming network upgrades and hard forks for REI Network (REI) and MobileCoin (MOB). Let’s take a look at the details.
Altcoin REI network upgrade and hard fork
Altcoin REI Network upgrade and Hard Fork are on target to occur at 15,084,585 REI Network block height. Accordingly, it is planned to start around 08:00 on 11-09-2023. During this time, REI deposits and withdrawals will be temporarily suspended starting approximately 11-09-2023 07:00. Accordingly, no action will be taken.
On the other hand, there is another important announcement. Accordingly, the altcoin MobileCoin network upgrade is in question. The MobileCoin network upgrade is set to occur at a MobileCoin block height of 1,936,306 MobileCoins. This upgrade is targeted to start around 21:00 on 26-09-2023. It is also stated that deposits and withdrawals for MOB will be suspended as of 26-09-2023 at 20:00.
Important points to note
Binance makes important reminders for users trading for both altcoins. Accordingly, trading of altcoins REI and MOB will not be affected during network upgrades and hard forks. On the other hand, the block heights provided for REI and MOB network upgrades are for users’ reference. It will also be subject to possible changes.
On the other hand, Binance will manage all technical issues on behalf of users who hold altcoins REI and MOB in their Binance accounts. More importantly, these network upgrades and hard forks will not result in the creation of new tokens. Once the upgraded networks are stable, Binance will immediately resume deposits and withdrawals for REI and MOB without the need for additional notification to users.
Binance’s commitment to user security
Binance’s critical announcement for two altcoins is not limited to this. There’s something about Binance’s commitment to supporting these network upgrades. Accordingly, it underlines its continued commitment to providing a safe and reliable trading environment for its large global user base. This decision ensures that Binance users can make these network changes safely and seamlessly.
On the other hand, Bitcoin and altcoin exchange Binance manages technical requirements quickly. It also provides uninterrupted support. This is due to the aim of being at the forefront of the cryptocurrency industry. On the other hand, when we look at it as cryptokoin.com, it once again confirms its mission of providing a smooth trading experience to its users.
