One of the leading cryptocurrency trading platforms – Binance – announced the date of the mainnet upgrade at Binance Chain following the successful launch of Galileo in the network's testnet. The company published the announcement on the official website July 4.
The validators of Binance Chain have reportedly agreed to plan a mainnet hard fork at the block 20 300 000. The probable date of the upgrade is July 15.
The upgrade requires the full node operators and validators updated the software to 0.6.0 version by July 10 otherwise they will not be able to synchronize with the Binance Chain network.
"A hardfork is a code upgrade that is not compatible with the previous code release. This means that nodes that take part in the upgrade will not be able to communicate with nodes/parties that are still running the previous code release..." the company explained in the report.
As for the users, clients that keep BNB at the platforms, including Binance, Bitmax, Gate(dot)io, as well as wallets that are supported by the system, do not take any steps unless the operators send them instructions.
Along with the general upgrade, Binance DEX will introduce a stricter distinction between makers and takers in the transactions. Moreover, validators will become able to initiate the delisting process for certain pairs with further approval via voting.
The client is said to be expanded with the feature of the signing of transactions offline with further uploading of such transactions to the network from another device.
Notably, there will be added an option which enables the projects to block part of their own tokens.