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Ify Egede
May 10, 2022
by Ify Egede

Binance to Support Upgrade on Helium Network

Helium Network
Earlier today, Binance shared a blog post on their official Twitter account to inform their users of their decision to support the upgrade on Helium Network. According to the blog post, the upgrade will start on 11th May but before then, all transactions on the Helium Network will be put on hold today, 11th May.

Binance Supporting Helium Network Upgrades

The Helium network upgrade is scheduled for 11th May. Once the upgrade starts, HNT deposits and withdrawals will be suspended on 10th May. There will be no disruption in HNT trading when the Helium network is undergoing an upgrade.

The Helium network upgrade is scheduled for 11th May. The anticipated time is provided solely for the convenience of the users. Binance will take care of all the technical details for all of its customers with HNT in their Binance wallets. They will be resuming HNT deposits and withdrawals once we have determined that the updated network is reliable and wouldn't alert users again.

About Helium Network

Over 500,000 miners have joined the Helium Network, a cryptocurrency-supported network of long-range WiFi hotspots, in the past 2 years. They are anticipated to reach the 1M milestone in the next 6 months. Some cryptocurrency market specialists are now wondering if the HNT token by Helium Network can appreciate — and what the hazards are. 

A little gadget called a Helium hotspot can connect IoT devices over vast distances. The HNT tokens awarded to hotspot operators are a form of cryptocurrency. A whole new, built-from-the-ground-up blockchain powers Helium, driven by a two-token system. 

With this unique consensus method, Hotspots may show the Helium network that their claims about identity and location are true. It is known as the PoC. Increased network usage should presumably make tokens rarer and desirable, thereby driving the HNT price up.

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Ify Egede
Ify is an experienced and versatile writer and researcher. He has have keen interest in blockchain technology, Bitcoin, cryptocurrencies, fintech and emerging technologies. He has tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids.

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