KuCoin to support IoTeX network upgrade and hard fork
KuCoin to support IoTeX network upgrade and hard fork
The KuCoin crypto exchange has announced its support for the upcoming IoTeX (IOTX) network upgrade and hard fork. Scheduled to occur at block level 31,174,201, approximately on July 22, 2024, this upgrade is a critical step in the ongoing development of IoTeX.
The upgrade requires the temporary suspension of deposit and withdrawal services for IoTeX beginning at 23:00 (UTC) on July 21, 2024 in order to facilitate a smooth transition. However, trading activity for IoTeX will continue unabated, ensuring that users can continue to buy and sell the cryptocurrency without interruption.
IoTeX began as an open-source project in 2017 and has since developed a decentralized platform with the goal of empowering open economics for machines – an open environment in which people and machines can interact with guaranteed trust, free will, and properly designed economic incentives.
The IoTeX network upgrade is designed to improve the efficiency and security of the platform, and includes several technical improvements. Notably, this upgrade will not result in the creation of new tokens, a point of reassurance for investors wary of potential inflationary effects.
KuCoin's proactive support of this upgrade underscores its commitment to maintaining a robust and secure trading environment for its users.
This move by the crypto exchange highlights it's strategic approach to supporting technological advancements within the blockchain ecosystem. By facilitating the IoTeX upgrade, KuCoin shows that its platform remains at the forefront of technological innovation, providing users with access to the latest developments in the cryptocurrency space.
The upcoming upgrade will enhance IoTeX's capabilities, potentially leading to improved performance and greater adoption. For investors and enthusiasts, this development is a positive indicator of IoTeX's growth trajectory and the cryptocurrency's potential future bullrun.
Going forward, traders are recommended to monitor the completion of the upgrade and its impact on IoTeX's functionality and market performance. The successful implementation of this network upgrade could pave the way for further progress and increased confidence in the IoTeX ecosystem.
See also: KAMA meme coin surge amid Biden statement on dropping re-election campaign
