May 26, 2020 02:30 UTC
May 26, 2020 at 02:30 UTC
Binance To Support The Launch of Theta Mainnet 2.0
The leading digital currency exchange by trading volume and users, Binance, will support the up and coming launch of the Theta Mainnet 2.0 on May 27th, 2020.
With the looming release of the system upgrade, the two native digital currencies Theta and Theta Fuel have soar over the previous month.
Binance to Give Support To Theta Mainnet 2.0 Launch
According to the Binance declaration today, deposits and withdrawals of THETA and TFUEL will be suspended beginning 4 AM on May 27th as the exchange will support the Theta Network Mainnet upgrade by then.
Subsequently, the advice to investors is to actualize withdrawals as well as deposits before those hours. In any case, the announcement illuminates that trading of either coin won’t be influenced.
It’s important that Binance will revive stores as well as withdrawals of the two tokens without giving another official declaration. It will happen once, ‘we deem the upgraded network to be stable.’
The blockchain project recently illustrated endless supply of the Theta Mainnet 2.0 upgrade, the system will encounter a few ‘technical upgrades’ and the beginning of Theta community staking.
According to Theta’s statement –
“Community-run Guardian Nodes will now take a direct role in block production, finalizing blocks at regular 100 block intervals, and making up a second layer of defense after the Validator Nodes that produce each block.”
“With Guardian Nodes joining the network and staking, no single group or entity will control the majority of THETA staked, marking a significant milestone toward Theta’s decentralization.”
Not at all like the launch of the initial mainnet last year, when the Theta Fuel token was acquainted with work related to the Theta Token, the 2.0 upgrade won’t issue another coin.
The distinction between the two tokens, as the organization clarified it, is that “THETA is used strictly for staking and securing the network, while TFUEL is used to power microtransactions and operations of the network.”