{"id":460952,"date":"2024-09-20T13:08:29","date_gmt":"2024-09-20T13:08:29","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=854121"},"modified":"2024-09-20T13:08:29","modified_gmt":"2024-09-20T13:08:29","slug":"binance-backs-eos-hard-fork-next-week-market-awaits-fresh-rally-after-savanna-consensus","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/20\/binance-backs-eos-hard-fork-next-week-market-awaits-fresh-rally-after-savanna-consensus\/","title":{"rendered":"Binance Backs EOS Hard Fork Next Week, Market Awaits Fresh Rally After Savanna Consensus"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2023\/12\/EOS-stacked-coins-with-green-background-of-EOS-logo.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<ul>\n<li><strong>Binance exchange has revealed its support for the coming EOS Hard Fork.<\/strong><\/li>\n<li><strong>The hard fork is slated for September 25 and will not produce a new token.<\/strong><\/li>\n<\/ul>\n<hr>\n<p><span>Binance, the world\u2019s biggest crypto exchange, has pledged support for the upcoming hard fork upgrade on the <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/eos-network-launches-250m-staking-rewards-program\/\" target=\"_blank\" rel=\"noopener\"><span>EOS network<\/span><\/a><span>. The hard fork, scheduled for next week, September 25, will implement upgrades to Spring 1.0 and Savanna consensus algorithms.&nbsp;<\/span><\/p>\n<p><span>Known as one of the pioneering blockchain networks in the market, there is a positive anticipation that this upgrade will catalyze the growth of the EOS token. Following the upgrade, the protocol promises faster and more reliable transactions.<\/span><\/p>\n<h3><b>Binance Expands Functionality for the EOS Network<\/b><\/h3>\n<p><span>Taking to social media platform X, Yves La Rose, founder and CEO of the EOS Network Foundation, thanked Binance for supporting the hard fork upgrade. \u201cBinance joins an already super-majority consensus supporting this groundbreaking upgrade to bring instant finality to EOS,\u201d La Rose <\/span><span>stated<\/span><span>.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Thank you <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> for supporting the <a href=\"https:\/\/twitter.com\/hashtag\/EOS?src=hash&amp;ref_src=twsrc%5Etfw\">#EOS<\/a> Network\u2019s hard fork upgrade to Spring 1.0 and Savanna Consensus on September 25 \ud83d\ude4f<a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> joins an already super majority consensus supporting this groundbreaking upgrade to bring instant finality to <a href=\"https:\/\/twitter.com\/search?q=%24EOS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$EOS<\/a> \u26a1<a href=\"https:\/\/t.co\/IRvzOjr5Fn\">https:\/\/t.co\/IRvzOjr5Fn<\/a> <a href=\"https:\/\/t.co\/86u2fVGLzk\">pic.twitter.com\/86u2fVGLzk<\/a><\/p>\n<p>\u2014 Yves La Rose (@BigBeardSamurai) <a href=\"https:\/\/twitter.com\/BigBeardSamurai\/status\/1836991548233228366?ref_src=twsrc%5Etfw\">September 20, 2024<\/a><\/p>\n<\/blockquote>\n<p><span>Binance noted in a press release that it will suspend token deposits and withdrawals on the EOS network on September 25 at 13:00 UTC to support the network hard fork upgrade. The exchange said it will manage all technical requirements to enhance users\u2019 experience further.<\/span><\/p>\n<p><span>Additionally, <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/binance-introduces-neiro-perpetual-contract-amid-controversy\/\" target=\"_blank\" rel=\"noopener\"><span>Binance<\/span><\/a><span> assured users that EOS trading will not be affected. Binance further disclosed that deposits and withdrawals for EOS tokens will reopen once the upgraded network becomes stable.&nbsp;<\/span><\/p>\n<p><span>\u201cNo further announcement will be posted,\u201d Binance revealed.<\/span><\/p>\n<p><span>Besides Binance, custody and wallet infrastructure provider Cobo has <\/span><a href=\"https:\/\/www.cobo.com\/post\/cobo-will-support-the-eos-network-upgrade-and-hard-fork-190924\" target=\"_blank\" rel=\"nofollow noopener\"><span>officially announced<\/span><\/a><span> support for the EOS network upgrade. Like Binance, Cobo said it will suspend the EOS deposit and withdrawal services on September 25 and resume service when the upgrade is completed.<\/span><\/p>\n<p><span>As CNF earlier <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/antelope-leap-5-0-eos-network-foundation-announces-major-consensus-upgrade-unveiling-new-possibilities\/\" target=\"_blank\" rel=\"noopener\"><span>mentioned<\/span><\/a><span>, the EOS Network Foundation launched a consensus upgrade known as Antelope Leap 5.0 in 2023. This upgrade introduces Instant Finality, the HotStuff consensus algorithm integration, and peer-to-peer protocol enhancements. This upgrade aims to unlock new possibilities for EOS and other Antelope-based chains.<\/span><\/p>\n<p><span>EOS is an open-source blockchain platform that supports value transactions and decentralized application development. The EOS blockchain is compatible with the Ethereum Virtual Machine.&nbsp;<\/span><\/p>\n<h3><b>Expectations of the EOS Hard Fork Upgrade&nbsp;<\/b><\/h3>\n<p><span>The release of Spring 1.0 represents a remarkable leap for the EOS network as it introduces new features designed to improve its performance, security, and scalability.<\/span><\/p>\n<p><span>The Savanna consensus algorithm introduces Instant Finality to the EOS Network, lowering transaction settlement times by 100 times. This can set a new standard for blockchain efficiency and cement EOS\u2019s position at the forefront of the technology.<\/span><\/p>\n<p><span>The hard fork upgrade also introduces Aggregate BLS signatures, which makes the EOS network more secure and capable of supporting complex cryptographic operations.<\/span><\/p>\n<p><span>The hard fork upgrade will not generate new forked EOS tokens. Consequently, EOS investors anticipate a bullish momentum in the token\u2019s trading value following the hard fork upgrade.<\/span><\/p>\n<p><span>The overall beneficiary of this upgrade might be the native token. As of this writing, EOS is trading at <span>$0.5172<\/span>, experiencing a <span>4.15%<\/span> surge in 24 hours. However, the trading volume slumped by 16% within the last 24 hours to $67 million, indicating reduced investor interest.<\/span><\/p>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance exchange has revealed its support for the coming EOS Hard Fork. The hard fork is slated for September 25 and will not produce a new token. Binance, the world\u2019s biggest crypto exchange, has pledged support for the upcoming hard fork upgrade on the EOS network. The hard fork, scheduled for next week, September 25, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":460953,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[40,321,25],"class_list":{"0":"post-460952","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-other","8":"tag-binance","9":"tag-eos","10":"tag-news"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/460952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=460952"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/460952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/460953"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=460952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=460952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=460952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}