Binance, one of the world’s most famous crypto exchange came into limelight when questions were raised against the exchange’s “security” after the 7000 Bitcoin [BTC] hack.
Since then, Binance has been very active and has established continuous updates and they have released their third security update in a week.
The Binance exchange announced it is running a scheduled upgrade which would begin on 15th May, 2019 at 3:00 am [UTC]. and The upgrade duration is of 6-8 hours.
“The users will be provided with a 30 minute window, where they can cancel orders, process deposits, and withdrawals and use all other account services before trading resumes on the exchange.”
Binance has been on very high mode from last few days to recover from the BTC theft. After the hack, due to irregular trading, Binance has restricted all existing API keys to make trade functionality back in order.
Further, Binance confirmed the update is on track and the next updates will be on 7 and 9 am(UTC).
During these updates, pledgecamp announced its migration to Binancechain. pledgecamp aims to offer speed and liquidity to the P2P market. The pedgecamp ecosystem will offer the credibility of binance to its users.
Pledgecamp is a decentralized platform which helps to solve long-standing issues of trust and incorrect user incentives in crowdfunding.
At the time of writing, Binance was ranked 2nd with a 24-hr volume of $2,656,582,345. The platform offers wide range of trading pairs i.e approximately 476 trading pairs. Binance is looking forward to bring more security through multiple updates.