Cryptocurrency exchange Binance has announced its support for the Conflux (CFX) network upgrade and hard fork set to take place on March 17, 2025.
Details of the Conflux Network Upgrade and Hard Fork
The Conflux team aims to enhance network performance and introduce new features at a block height of 118,580,000. The hard fork involves fundamental changes to the protocol, requiring users to update their software. Exchanges like Binance facilitate this process by handling all related transactions during such technical changes.
Important Notes for CFX Coin Holders
Binance has communicated the date and time of suspension for CFX coin operations. No additional steps are required for users holding CFX coins in wallets or on the exchange during the hard fork. Trading operations for the altcoin are expected to continue uninterrupted. Users should complete transfers before suspension time. Operations will automatically resume once the network stabilizes after the upgrade.
Impact on Binance Exchange Users
The suspension of CFX operations on Binance is a temporary measure to protect user assets and ensure a smooth transition to the new network version. Operations will resume after the network stabilizes post-upgrade.
The Conflux network upgrade and hard fork, supported by Binance, aim to improve network performance and security without requiring active user intervention.
