Binance to support Flow (FLOW) and Shentu (CTK) network upgrades

04/24/2023 02:48 • Metaverse Matters • 94 views

On April 24th, Binance announced that it will support Flow (FLOW) and Shentu (CTK) network upgrades. During the network upgrade period, the transactions between FLOW and CTK will not be affected. The Flow (Flow) network upgrade will take place from 15:00 (UTC) on April 26, 2023. Flow’s deposits and withdrawals will be suspended from 14:00 (UTC) on April 26, 2023. The Shentu (CTK) network upgrade will be carried out at a height of 12926000 in the Shentu block, or approximately at 00:00 am (UTC) on April 26, 2023. CTK’s deposits and withdrawals will be suspended from 23:00 (UTC) on April 25, 2023.

Binance will support Flow (FLOW) and Shentu (CTK) network upgrades

The cryptocurrency exchange giant Binance has recently announced its support for the Flow (FLOW) and Shentu (CTK) network upgrades. Binance stands as one of the most prominent players in the industry and holds a reputation for providing robust support to promising projects.

The Flow (FLOW) network upgrade

The Flow Network is a blockchain developed to enable the security, scalability, and performance required for the next generation of digital applications. The Flow platform is built upon a unique architectural design that efficiently resembles sharding. Sharding is an essential tool that splits transactions among many sub-networks, making the platform more secure and efficient.
The Flow network upgrade will take place on April 26, 2023, from 15:00 (UTC). During the upgrade, transactions between FLOW will not be affected. However, deposits and withdrawals will be suspended from 14:00 (UTC) on April 26, 2023.

The Shentu (CTK) network upgrade

The Shentu network is an ambitious project aiming to revolutionize the DeFi space. Shentu is a permissionless, fair, and secure blockchain system that incorporates advanced consensus algorithms and smart contracts. These features enable developers to create high-quality decentralized applications that can compete with centralized alternatives.
The Shentu network upgrade will take place at a height of 12926000 in the Shentu block. This will happen approximately at 00:00 am (UTC) on April 26, 2023. During the upgrade, transactions between CTK will not be affected. However, deposits and withdrawals will be suspended from 23:00 (UTC) on April 25, 2023.

Conclusion

Binance is dedicated to supporting the growth and success of the cryptocurrency industry by providing robust support to promising projects like Flow (FLOW) and Shentu (CTK). The network upgrade is a critical event for any blockchain, and the successful outcome of these upgrades will play a significant role in shaping the future of these systems.

FAQs

1. What is the importance of network upgrades?
Network upgrades are of great importance to blockchain systems, as they help improve the network’s capabilities, enhance security, and enable scalability.
2. What are FLOW and CTK tokens?
FLOW is the native token of the Flow network, whereas CTK is the native token of the Shentu network. Both tokens are used to pay for transaction fees, reward validators, and incentivize network participants.
3. When will deposits and withdrawals resume after the network upgrades?
Deposits and withdrawals for FLOW and CTK will resume after the successful completion of the network upgrades. Binance users will be notified via email and other official communication channels.

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