Cardano Chang Upgrade Launch: Binance Has Officially Confirmed Their Support
Binance has announced its support for the upcoming hard fork of Cardano, called the Chang upgrade, scheduled for September 1. This announcement comes after an initial postponement from the previously planned August 27 date due to readiness concerns from Binance and other exchanges.
As part of its support, Binance will suspend token deposits and withdrawals on the Cardano blockchain to ensure a smooth transition during the hard fork. The exchange will also manage all technical aspects for its users to prevent any disruptions during the upgrade.
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Following the completion of the hard fork, Binance will resume normal transactions on the Cardano chain, including deposits and withdrawals.
Binance’s backing of the Chang hard fork is expected to generate positive sentiment within the Cardano community. The upgrade will shift governance to the community, and the ADA token experienced a slight price increase in anticipation of these developments.
With Binance’s support confirmed, the September 1 Chang hard fork is now confirmed to proceed as scheduled. Additionally, key readiness criteria for the upgrade were met on August 28, with stake pool operators and exchanges achieving high readiness scores.
Furthermore, the Ledger Nano S has also been confirmed to be ready for the hard fork, addressing earlier concerns about its preparedness for the upgrade.
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