Binance has announced its support for updates and hard forks on the Harmony (ONE) and VITE (VITE) networks. The cryptocurrency exchange will manage all technical operations to ensure users are not negatively impacted during this process. Although deposits and withdrawals will be temporarily halted, trading will continue without interruption.
Preparing for Harmony and VITE Network Updates
Binance has revealed that the update for the Harmony network will begin on October 31, 2024, at 16:00 (UTC+3). The update and hard fork will take place once the block height reaches 64,847,872. Users will see the temporary suspension of deposit and withdrawal transactions starting at 15:00 (UTC+3), an hour before the scheduled update.
A similar process will be applicable for the VITE network, which is set to update on the same day at 17:30 (UTC+3). This update will occur when the block height reaches 166,869,900. Binance will suspend deposits and withdrawals for the VITE network temporarily starting at 16:30 (UTC+3).
Temporary Halt on Deposits and Withdrawals
During this period, trading for both altcoins will proceed unaffected by the updates and hard forks. Binance emphasized that users can continue their trading activities without interruption. Once the stability of the networks is confirmed, Binance will reopen deposits and withdrawals.
The exchange stated that users would not need to perform any technical procedures during this time, as all operations will be handled by Binance. After confirming the security and stability of the altcoin networks post-updates and hard forks, Binance will make a new announcement before resuming deposit and withdrawal operations.
