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Binance Backs Arweave and MultiversX Network Upgrades

Coin WorldFriday, Jan 31, 2025 1:32 am ET

1min read

Binance, the world's largest cryptocurrency exchange by trading volume, has announced its support for the upcoming network upgrades and hard forks of Arweave (AR) and MultiversX (EGLD). This move demonstrates Binance's commitment to fostering innovation and growth within the cryptocurrency ecosystem.

The Arweave network upgrade, also known as the "Sunrise" update, aims to improve the network's scalability, security, and decentralization. The hard fork will introduce new features such as a native token, AR, and a decentralized storage marketplace. Binance's support for this upgrade will enable its users to seamlessly participate in the new Arweave ecosystem and benefit from its enhanced capabilities.

The MultiversX (EGLD) network upgrade, on the other hand, focuses on enhancing the network's interoperability and scalability. The hard fork will introduce a new consensus mechanism, a cross-chain asset bridge, and an improved governance system. Binance's backing for this upgrade will provide its users with access to the upgraded MultiversX network, allowing them to explore new opportunities in the cross-chain ecosystem.

Binance's decision to support these network upgrades and hard forks is a strategic move that aligns with its mission to promote the growth and adoption of cryptocurrencies. By providing its users with access to these upgraded networks, Binance is fostering a more innovative and interconnected cryptocurrency ecosystem. This, in turn, is expected to drive further growth and adoption of cryptocurrencies, as users and investors alike benefit from the enhanced capabilities and features of these upgraded networks.

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