Binance Chain Prepares To Activate Galileo Update With Hard Fork
A planned hard fork took place on the Binance Chain testnet at block 24,020,000 this morning to activate the Galileo update. Mainnet update will launch in a few weeks.
The company notes that BNB holders will not be required to take any action in connection with the hard fork, unless they receive instructions from the exchanges or wallets of which they are clients..
The new version provides for the possibility of delisting trading pairs from the Binance DEX exchange based on the proposal of validators and subsequent voting if it is recognized that any of them has low trading volumes over a long period of time.
Projects will be given the opportunity to block part of their own tokens for a certain period. For example, this could be covered by their roadmap. In addition, the mechanism can be used to provide any assets with separate tokens..
The client will now have the function of signing all types of transactions without an active network connection. Subsequently, such transactions can be transferred to the network using another device..
A number of changes and improvements will also be made, affecting the network synchronization mechanism, the order matching engine and the consensus algorithm..
Last week, Binance launched a Bitcoin-backed token for circulation on its blockchain and non-custodial exchange.
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