Ouyi OKX will support Ethereum Shapella upgrade, and will suspend ETH, OP, ARB and other recharge services at that time

According to reports, Ouyi OKX announced that in order to support the upcoming upgrade of Shapella on the Ethereum network epoch 194048 at 6:27 on April 13, Ouyi will suspend the recharging and withdrawal services of ETH, OP, ARB, ERC-20 tokens, as well as OPTIMISM (OP), ARBITRUM (ARB), and zkSync Lite network tokens at 5:30 on April 13, and reopen the related transactions when the network stabilizes. After the upgrade of Shapella, Ouyi will increase the number of Ethereum network recharge confirmations from the current 12 blocks to 64 blocks.

Ouyi OKX will support Ethereum Shapella upgrade, and will suspend ETH, OP, ARB and other recharge services at that time

I. Introduction
A. Explanation of Ouyi OKX and their announcement
II. Shapella Upgrade of the Ethereum Network
A. Explanation of the Shapella Upgrade
B. Reason behind the upgrade
III. Temporary Suspension of Recharge and Withdrawal Services
A. Suspension of ETH, OP, ARB, and ERC-20 Tokens
B. Suspension of OPTIMISM (OP), ARBITRUM (ARB), and zkSync Lite Network Tokens
C. Reopening of Related Transactions
IV. Delay in Transaction Confirmations
A. Increase in Number of Ethereum Network Recharge Confirmation Blocks
V. Impact of Shapella Upgrade on Ouyi OKX
VI. Conclusion
A. Takeaways from the Article
VII. FAQ
# According to reports, Ouyi OKX announced that in order to support the upcoming upgrade of Shapella on the Ethereum network epoch 194048 at 6:27 on April 13, Ouyi will suspend the recharging and withdrawal services of ETH, OP, ARB, ERC-20 tokens, as well as OPTIMISM (OP), ARBITRUM (ARB), and zkSync Lite network tokens at 5:30 on April 13, and reopen the related transactions when the network stabilizes. After the upgrade of Shapella, Ouyi will increase the number of Ethereum network recharge confirmations from the current 12 blocks to 64 blocks.

Introduction

On April 13, 2021, Ouyi OKX announced their support of the Shapella upgrade on the Ethereum network. The upgrade will occur on epoch 194048 and will take place at 6:27. In order to support the upgrade, Ouyi will temporarily suspension their recharge and withdrawal services of various cryptocurrencies, including Ethereum (ETH), OP, ARB, ERC-20 tokens, OPTIMISM (OP), ARBITRUM (ARB), and zkSync Lite network tokens. After the upgrade, Ouyi will increase the number of Ethereum network recharge confirmations from 12 blocks to 64 blocks.

Shapella Upgrade of the Ethereum Network

The Shapella upgrade on the Ethereum network is an important update that will improve the network’s functionality and security. The upgrade will enable new features that will make the network faster, more efficient, and more secure. The upgrade aims to provide better support for smart contracts and decentralized applications that use the Ethereum network.
The upgrade will also improve the network’s security by increasing the resistance to 51% attacks. A 51% attack is a security breach that occurs when an attacker gains control of 51% of a blockchain network’s computing power. With the upgrade, the Ethereum network will become more resistant to such attacks.

Temporary Suspension of Recharge and Withdrawal Services

To support the Shapella upgrade, Ouyi OKX will suspend their recharge and withdrawal services of various cryptocurrencies. At 5:30 on April 13, Ouyi will suspend the recharge and withdrawal services of Ethereum (ETH), OP, ARB, ERC-20 tokens, OPTIMISM (OP), ARBITRUM (ARB), and zkSync Lite network tokens. The suspension will last until the network stabilizes, and Ouyi can resume the related transactions.

Delay in Transaction Confirmations

After the upgrade of Shapella, Ouyi will increase the number of Ethereum network recharge confirmations from 12 blocks to 64 blocks. The increase in recharge confirmation blocks is to ensure that the network is more secure and that transactions are confirmed more quickly.

Impact of Shapella Upgrade on Ouyi OKX

The Shapella upgrade will significantly impact Ouyi OKX, as they will need to update their systems and processes to support the upgraded Ethereum network. Additionally, the temporary suspension of recharge and withdrawal services may cause inconvenience to Ouyi users.

Conclusion

The Shapella upgrade is an important update that aims to improve the Ethereum network’s functionality and security. Ouyi OKX’s support of the upgrade is vital for the success of the network. However, the temporary suspension of recharge and withdrawal services may cause inconvenience to Ouyi users.

FAQ

Q1. What is the Shapella upgrade on the Ethereum network?
Ans. The Shapella upgrade is a network update that aims to improve the Ethereum network’s security and functionality.
Q2. Why is Ouyi OKX suspending their recharge and withdrawal services?
Ans. Ouyi OKX is suspending their recharge and withdrawal services to support the Shapella upgrade on the Ethereum network.
Q3. Will the suspension of recharge and withdrawal services impact other crypto exchanges?
Ans. No, the suspension of recharge and withdrawal services will only impact Ouyi OKX.