Home Crypto Highly Anticipated Cardano Upgrade Receives Major Boost From Binance

Highly Anticipated Cardano Upgrade Receives Major Boost From Binance

Cryptocurrency trade Binance proclaims it should help the launch of Cardano’s upcoming sensible contract mainnet.

Binance says that when Cardano (ADA) upgrades to its Alonzo onerous fork, it should droop withdrawals of ADA for half an hour or till it deems the community to be steady.

The Alonzo onerous fork will introduce sensible contract functionality to the third-largest cryptocurrency by market cap, opening up decentralized finance (DeFi) and different functionalities to customers.

“The ADA community improve and onerous fork will start throughout epoch 290 or at roughly 2021-09-12 21:44 (UTC). Deposits and withdrawals of ADA will likely be suspended ranging from 2021-09-12 21:14 (UTC).”

On the Cardano blockchain, an epoch at present consists of 432,000 slots. Each slot is equal to 1 second, translating to an epoch lasting roughly 5 days. At the time of writing, Cardano is at epoch 289.

According to Cardano developer Input Output Hong Kong (IOHK), some cryptocurrency exchanges have already began integrating towards the Alonzo community, including US-based digital asset trade Coinbase and Hong Kong-based trade HitBTC.

Hardware wallets Ledger Nano S and Ledger Nano X have been marked as “Alonzo prepared” by IOHK.

ADA is buying and selling at roughly $2.5 on the time of writing, in response to CoinGecko. It is down almost 20% from the all-time excessive of $3.09 it reached earlier this month. Cardano’s percentage share of the full market cap is about 3.98% on the time of writing.

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Featured Image: Shutterstock/GrandeDuc

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