Neo (NEO) N3 Network Upgrade & Hard Fork Gets Support From Binance

Halt in Deposits and Withdrawal

Binance announced its support for the N3 network upgrade and hard fork scheduled to be implemented on the Neo Network. This upgrade is known as “Neo CLI v3.3.0”.

According to the upgrade notice released by the Neo Network on June 2 and as confirmed by Binance, the N3 upgrade and hard fork will take place at the Neo N3 block height of 1,730,000. At the time of writing, the total blocks on the network stood at 1715,452.

According to Binance, deposits and withdrawals of NEO coins would be suspended on the exchange starting from June 19 at 11:00 am (UTC). The Cryptocurrency Exchange further stated that users could trade NEO coins during the network upgrade. However, it would only reopen deposits and withdrawals for NEO coins once it confirms the upgraded network to be stable. 

Furthermore, Binance added that it would handle all technical requirements for users holding NEO coins in their Binance accounts. Binance also confirmed to its users that the network upgrade and hard fork would not create new tokens. At the time of writing, the NEO coin price was pegged at $9.18, with a 3% decline in the past 24 hours. 

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What is Neo Network:

The Neo Network is an open-source, community-driven blockchain platform. It enables developers to digitize and automate the management of assets through smart contracts. It also provides powerful native infrastructures such as decentralized storage, oracles, and domain name service. 

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