Altcoin News: Binance Chain Is Preparing to Activate the Galileo Update with a Hard Fork

June 26, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

This morning, a planned hard fork took place in the Binance Chain test network at block 24 020 000 in order to activate the Galileo update. The update in the main network will be launched in a few weeks.

The company notes that BNB holders will not need to take any action in connection with the hard fork unless they receive relevant instructions from exchanges or wallets whose clients they are.

The new version provides the possibility of delisting trading pairs from the Binance DEX exchange based on the proposal of validators and subsequent voting if it is recognized that any of them has low trading volumes over a long period of time.

Projects will be given the opportunity to block part of their own tokens for a certain period. For example, this may be provided by their roadmap. In addition, the mechanism can be used to provide any assets with individual tokens.

The client will receive the function of signing all types of transactions without an active network connection. Subsequently, such transactions can be transferred to the network using another device.

There will also be a number of changes and improvements affecting the network synchronization mechanism, the bid matching engine, and the consensus algorithm.

Author: Marko Vidrih