Binance support For Neo (NEO) Network Upgrade

Binance support For Neo (NEO) Network Upgrade
  • The upgrade will add  two new opcodes MODMUL and MODPOW.
  • No new tokens issued in the upgrade.

Today, Binance, the largest crypto exchange by trading volume, has announced its support for Neo (NEO) N3 network upgrade and hard fork. The process  is set to begin on June 19 and the NEO deposits and withdrawals will be halted about 11:00 (UTC) on the same day.

N3 Network Upgrade 

The Neo N3 network upgrade and hard fork will begin on the Neo N3 block height of 1,730,000. NEO trading activity will not be affected by network upgrades. Binance will handle all technical requirements for all the Binance users who hold NEO in their accounts. 

There will be no new tokens issued as a result of the Neo (NEO) N3 network upgrade and hard fork. Binance will resume NEO deposits and withdrawals after they establish a stable network.

The upgrade will add  two new operation codes (opcodes) that are MODMUL and MODPOW and the runtime will be improved. users can create MultisigAccount, reasonable price for system, Storage key optimization and deserialization will be upgraded. 

Also Binance supporting Firo (FIRO) Network Upgrades. The upgrade will reduce block time from 5 to 2.5 minutes, there is no change to the inflation rate or maximum supply. A community fund is intended to be included in the distribution of FIRO block rewards.

According to CoinMarketCap Neo (NEO) traded at $9.53 with a trading volume of $132,545,020 and market cap of 672,050,584 USD. Neo is up 3.38% in the last 24 hours. 

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