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Binance, one of the world's largest cryptocurrency exchanges, announced that it will support the Qtum (QTUM) network upgrade and Hard Fork.
Cryptocurrency Exchange Binance Supports Qtum (QTUM) Upgrade
The upgrade is scheduled to take place around 27-11-2023 03:24 at block height 3,385,122.
During the upgrade, deposits and withdrawals of tokens on the Qtum network will be suspended from approximately 26-11-2023 02:30. However, trading of tokens on the network will not be affected. Binance will meet technical requirements for all users.
Once the upgraded network is deemed stable, deposits and withdrawals for tokens on the Qtum network will be reopened. No further announcement will be released.
What is Qtum (QTUM)?
Qtum is an open source smart contract blockchain platform and value transfer protocol using the Proof of Stake (PoS) algorithm.
The project aims to bring together the strengths of the Bitcoin and Ethereum networks on the same chain. Qtum was founded on the UTXO transfer model using Bitcoin by adding features such as smart contract execution and DApp integration.
The platform started to offer support for DeFi applications. As of March 2021, there are more than twenty tokens created on the Qtum blockchain.
*This is not investment advice.