World’s largest crypto exchange Binance has announced its plans to support Cardano’s upcoming hard fork upgrade ‘Alonzo’.
IOHK, the development team behind Cardano, recently confirmed the implementation date of the ‘Alonzo’ hard fork, which is scheduled at 21:45 (UTC) on September 12.
Binance has announced that it will be suspending deposits and withdrawals of ADA starting from 12 Sept. 21:14 (UTC), 30 minutes before the scheduled event. However, the company has assured that the trading of ADA would not be affected.
“We will reopen deposits and withdrawals for ADA once we deem the upgraded network to be stable, and will not notify users in a further announcement.”
‘Alonzo’ has been by far deemed as the most significant upgrade on Cardano. The upgrade will introduce smart contracts to Cardano, allowing anyone to build DeFi apps on its platform.