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The Shelley release from Cardano and the new Daedalus 2.1 wallet called for a reform on exchange platforms to ensure smooth ADA transactions and activities on their platforms, however, users of the 8th largest cryptocurrency have begun lamenting that despite official support from Binance, the exchange is not recognizing the new Shelley address format, a Twitter thread confirms.
The whole conversation began after Binance CEO Changpeng Zhoa announced that it officially received the new version of the $ADA wallet from the Cardano team.
Though Zhoa mentioned that withdrawals will soon resume, some Cardano users went on to check the status of the platform, commenting that the address format for the new wallet on the colossal exchange is wrong.
A Cardano user with pseudonym Metroplex said the new withdrawal address isn’t working on Binance platform. He said the length does not tally with what is required on Binance exchange.
Each time the address is inserted into the space provided by the exchange users get the response: “The address format is wrong. Please check the address length and character content and try again.”
Earlier before Metroplex issued the complaint some users of the cryptocurrency had been rejoicing over the update from Binance stating that they expect massive ADA influx into the stakepools.
The CEO of IOHK and founder of Cardano blockchain network, Charles Hoskinson, also had his voice on the matter. Hoskinson said the problem may have resulted from validation as the website fails to recognize the new Shelley address.
The CEO added that he’d talk to the exchange’s team in the day time to help fix the issue.
Binance’s ADA Receiving Address not in Shelley Format
The complaint about the withdrawal address was succeeded by another claim that the receiving address also has trouble.
Another user of the cryptocurrency with pseudonym Cy complained that the receiving address is not in Shelley format, drawing Cardano users’ attention to the fact that Binance is probably not yet in full shape to support the cryptographic project’s upgrade.
Hoskinson also commented on this, confirming that the receiving address is also problematic. The CEO who doubles as the co-founder of Ethereum said the deposit address has a “prefix that indicates its bech32.”
Charles Hoskinson Expresses Gratitude to Binance
Earlier, when the CEO of the cryptocurrency exchange revealed that Binance has received the new version of the ADA wallet and deposits would soon be initiated, Hoskinson expressed his gratitude toward the team behind the exchange for their unflinching support during the transition process of Cardano.
They provided numerous “great feedback and needed QA to get this over the finish line.” Hoskinson said it is a pleasure to work with the team.