Binance announces the suspension of deposits and withdrawals for Dash token for network upgrade.

dash (Dash) Network upgrade and hard fork Announce By Binance, and is scheduled to take place on January 7, 2025, at Block height 2,201,472. Block height refers to the position of a particular block within the blockchain, and a network upgrade will occur once the blockchain reaches that point.

Starting at 19:00 (UTC+8) on the same day, Binance It will halt deposits and withdrawals of DASH token to facilitate a smooth transition. Users are advised to complete any necessary deposits in advance. The exchange will manage all technical aspects of the upgrade on behalf of its users, and trading of DASH tokens will not be affected. Once the network is stabilized, Binance Deposits and withdrawals will reopen.

To improve blockchain functionality, security, and scalability, or to address flaws or vulnerabilities, upgrading the network involves modifying the protocol. These improvements may include bug fixes, new features, or improvements.

A hard fork is a specific type of update in which modifications are so large that they create two incompatible copies of the block chain. This means that users must update their software to the latest version to continue using the network. Hard forks are commonly used to implement large changes, such as improving scalability or adding new features. If there is disagreement about the direction of the upgrade, a hard fork could create an entirely new blockchain.

Binance Similar upgrades have been supported in the past. For example, it facilitated smooth trading and handling of technical operations during the BCH hard fork in November 2020. In April 2023, Binance supported the Ethereum upgrade in Shanghai, which introduced key improvements, such as enabling the withdrawal of staked assets.

Users should monitor official announcements from Binance and the DASH project team for any updates or... additional Information.