Binance has announced its support for the upcoming Optimism network upgrade and hard fork, set to occur on January 10, 2025, at 2:00 AM (UTC+8). To facilitate this transition, Binance will temporarily suspend token deposits and withdrawals on the Optimism network, starting from 1:00 AM on the same day. The network upgrade aims to improve user experience, scalability, and overall performance, while trading of supported tokens will not be impacted.
The Optimism network hard fork requires network participants to update their software to the latest version to continue participating. Such upgrades can address security vulnerabilities, introduce new features, or enhance network efficiency.
In the realm of blockchain technology, hard forks have been crucial for development, as demonstrated by Ethereum’s shift to a proof-of-stake consensus mechanism and the introduction of EIP-1559, which brought about changes to the fee model and supply dynamics.
Binance advises users to complete necessary transactions ahead of the upgrade to avoid inconvenience, as deposits and withdrawals will automatically resume once the network is stable. Users are further encouraged to consult the official update announcement for more information and to remain vigilant against potential fraud related to the upgrade.
