Crypto exchange Gate.io to support Hydra mainnet upgrade
Crypto exchange Gate.io to support Hydra mainnet upgrade
Gate.io will support the impending Hydra (HYDRA) mainnet upgrade, temporarily suspending the cryptocurrency's deposits and withdrawals. Trading activities will not be affected during the upgrade process.
Gate.io, one of the leading cryptocurrency exchanges, announced its support for the Hydra (HYDRA) mainnet upgrade scheduled for August 1, 2024. This move underscores the platform’s commitment to staying abreast of technological advancements and ensuring the security and efficiency of its trading environment.
The announcement details that during the upgrade, Gate.io will temporarily suspend deposits and withdrawals for Hydra (HYDRA) to facilitate a smooth transition. However, trading for the cryptocurrency will remain unaffected, allowing users to continue their trading activities without interruption. This approach aims to balance the need for technical improvements with the continuity of user services, a critical aspect for maintaining user trust and platform reliability.
The philosophy behind the Hydra chain is to implement critical economic features while using proven technology for data transfer. Hydra is a permissionless, open-source, proof-of-stake blockchain built on top of the open-source projects QTUM, Bitcoin, Ethereum and BlackCoin's PoV v3.
Hydra, known for its high transaction speeds and low fees, has been a significant player in the decentralized finance (DeFi) space. The upcoming mainnet upgrade is anticipated to introduce several enhancements, potentially boosting its performance and expanding its utility in the crypto ecosystem.
The exchange’s actions not only enhance its platform but also contribute to the broader advancement of the cryptocurrency ecosystem.
Launched in 2013, Gate.io is a centralized crypto exchange (CEX) with a large portfolio of crypto coins and tokens for trading. The platform supports over 1,400 cryptocurrencies with over 2,500 trading pairs. The exchange occupies one of the leading positions in terms of trading volume (more than $3 billion in spot trading volume daily).
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