Binance to support Sei (SEI) network upgrade
Binance to support Sei (SEI) network upgrade
Cryptocurrency exchange Binance has announced its support for the SEI Network Upgrade (SEI), which aims to improve network functionality and user experience.
The network update is expected to take place at approximately 16:30 (UTC) on July 15, 2024 at block height 89,475,838.
The cryptocurrency exchange assures users that all technical issues will be resolved internally and normal operations will resume once stability is confirmed.
During this process, Binance will suspend deposits and withdrawals in Sei tokens, while trading will remain unaffected. Deposits and withdrawals will resume once the network is verified to be stable. The exchange has no additional announcements planned for the relaunch.
Network upgrades are critical to the ongoing development and improvement of blockchain networks. They often include performance improvements, security updates, and new features that can significantly impact the functionality and efficiency of the network.
By supporting such upgrades, Binance demonstrates its status as an advanced platform that adapts to the changing needs of the cryptocurrency market.
Supporting the Sei network upgrade highlights Binance's role in driving blockchain and cryptocurrency innovation.
As blockchain technology evolves, such upgrades are expected to occur more frequently, with the goal of improving scalability, security, and user experience.
Binance is the world's largest cryptocurrency exchange by trading volume, with 170 million customers worldwide as of early 2024. The platform has established itself as a trusted player in the cryptocurrency space, where users can buy, sell and store their digital assets, as well as access more than 500 cryptocurrencies and thousands of trading pairs.
