Binance Bolsters Cardano’s Much-Anticipated Upgrade

Binance, a cryptocurrency exchange, has declared that it will support Cardano’s imminent smart contract mainnet launch.

When Cardano (ADA) upgrades to its Alonzo hardfork, Binance holds it would halt ADA withdrawals for thirty minutes or until the network stability is confirmed.

Users will be allowed to access many features including decentralized finance (DeFi) due to the Alonzo hardfork adding smart contract functionality to the third-largest cryptocurrency by market capitalization.

An epoch on the Cardano blockchain currently has 432,000 slots. Each slot corresponds to one second, resulting in a five-day period. At the time of publication, Cardano was at epoch 289.

Some cryptocurrency exchanges, notably US-based digital asset exchange Coinbase and Hong Kong-based exchange HitBTC, have already begun consolidating opposite the Alonzo network, Cardano creator Input Output Hong Kong (IOHK) claims.

IOHK has already deemed hardware wallets Ledger Nano X and Ledger Nano S as ready for the new smart contract launch.

Cardano’s ADA market cap % share was at 3.98% and was trading at $2.5 at the time of publication, which constitutes quite a dive from the ATH of last week. 

Also read: Nasdaq Will Supply Pricing Feeds for DeFiChain Tokenized Stock Trades

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