Home / Crypto News / Binance Chain Main Net Upgrade Implementation date estimated July 15

Binance Chain Main Net Upgrade Implementation date estimated July 15

A block chain ” Binance Chain ” developed by a major crypto asset exchange, Binance (Binance), announced that it will implement a hard-fork upgrade of the main net with 20,300,000 blocks.

According to the current block generation speed, it is expected that the planned block height will be reached around 4 pm on July 15 (Japan time) .

The upgrade will be implemented with at least two-thirds of validators in line with Binance Chain’s governance rules.

The new version, named Galileo, adds the ability to exclude certain trading pairs from Binance DEX after validator submissions and votes for those proposals.

In addition, Binance DEX will introduce a new system to match sales orders .

Notable among the new features other than the decentralized exchange is a ” time lock ” feature that prevents the tokens issued on the Binance Chain from moving from the holding address until a certain date and time .

This feature is expected to be used to freeze the holdings for a certain period of time to show commitments by projects that issue tokens, or to lock tokens as security for some asset.

Users of BNB compliant exchanges and wallets are not required to take any action on this upgrade.

Article Source: Binance Chain

Author: Yuya 【Coin Desk News】 – Source Post: http://festyy.com/w2zJxa

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