Binance's support for the Optimism network upgrade is aimed at improving performance and user experience.
On January 10, 2025, at 2:00 (UTC+8), Binance name to support the Optimism (OP) network update and hard fork. To facilitate the update, Binance will suspend token deposits and withdrawals on the OP network from 1:00 (UTC+8) on the same day.
OP's network upgrades are designed to improve the network's user experience, scalability, and overall performance. Binance has assured users that trading of tokens supported by the OP network will not be affected during this period.
A blockchain network protocol that is incompatible with earlier versions is called an upgrade or major change. hard fork. This means that all network participants must update their software to the latest version to continue participating in network operations. A hard fork often resolves security vulnerabilities, introduces new features, or improves the scalability and efficiency of the network.
Historically, hard forks have played an important role in the development of blockchain technology. For example, the “Merge” moved Ethereum to a hit proof consensus mechanism, while the “London” EIP-1559 update introduced, replacing the traditional tax model based on an auction with a basic tax that will be burned (removed from circulation) and optional priority fee (tip) for faster transactions. This improved gas tax predictability and added a deflationary element to Ethereum's (ETH) supplies.
These developments highlight the importance of continuous innovation and security in blockchain networks.
Users should note that deposits and withdrawals on the OP network will be suspended from 1:00 (UTC+8) on 10 January 2025. To avoid any inconvenience, it is recommended for users to complete necessary transactions in advance. Binance handles all technical requirements for the update, ensuring a seamless experience for users. Deposits and withdrawals will start automatically once the network has stabilized, without the need for further calls.
Users are also motivated by Binance to stay updated and make sure to read the file official update notification with the OP network as well. for the latest information. Users are also warned to watch out for fraud or false information related to the update.
