Binance Chain Hard Fork Archimedes Activates Atomic Swaps and Smart Contract Support

Libra Coin News
Mon, 09/16/2019 - 08:22
Yuri Molchan
The recently launched Binance Chain testnet has completed its first hard fork upgrade Archimedes to make the network more stable and introduce new features
Cover image via www.123rf.com
Contents

The Binance community blog has just spread the word that on Monday, September 16, Binance Chain has conducted its first full-scale hard fork on its testnet. The platform has been working fully stable since 6 a.m. this morning.

The upgrade was done to add new features and make the platform more stable than before.

Atomic swaps and smart contract support added

As per the source, the recent upgrade to Binance Chain has introduced new important features, such as enabling Binance Chain to conduct atomic swaps with other platforms, as well as support for smart contracts was implemented.

The blog post says:

As described in BEP39, this new feature is designed to add memo in the transfer data of WebSocket. If you are new to Binance Chain, the speed of the syncing process will be faster with hot-sync protocol. Don’t forget to add the latest metrics for Tendermint on your monitoring tool.

The hard fork was activated on block number 38,770,000.

The blog posts assure that BNB holders who use such exchanges as Binance, BitMax or Gate.io or hardware wallets Ledger, Cool Wallet, have nothing to worry about.

BNB (such as Binance.com, BitMax or Gate.io), one of the wallets, or a hardware wallet (such as Ledger, Cool Wallet), you do not need to do anything unless your exchange or wallet service specifies otherwise.

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First EOS hard fork is coming too

EOS block producers have also decided to upgrade the EOS network and will be activating the 1.8 version of the EOSIO protocol on Monday, September 23. This would become the first and the largest upgrade to the network since its launch off the Ethereum blockchain in summer 2018.

So far, 29 block producers out of 30 have committed to conduct the upgrade.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.


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