Crypto Exchange Binance Explains The Whole Matter Regarding Dogecoin Users - Bitxcon
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Crypto Exchange Binance Explains The Whole Matter Regarding ...
Cryptocurrency, News

Crypto Exchange Binance Explains The Whole Matter Regarding Dogecoin Users

Binance exchange has shared its perspective regarding the recent transactions taking place between Binance as well as Dogecoin users.

Just a few weeks ago, Dogecoin upgraded the network to improve the security and efficiency that is provided by the Dogecoin network. The upgrade went on without issue, but there was a problem with the new Dogecoin transactions being accepted on the Binance exchange. The exchange has only a handful of users.

This time earlier, the Binance exchange did not share data publicly and many were pondering who could have was the culprit during this particular incident.

On the 29th of November, Binance announced all about the issue in detail in an article on their blog.

Binance declared that the exchange is committed to providing the most advanced crypto-related services that are well-known around the world and valuable to cryptocurrency users. It is however a typical thing for all businesses to be faced with issues and Dogecoin-related issues. This was an issue for Binance.

In essence, Binance said that nor Binance is accountable for nor Dogecoin developers. In the course of upgrading the network, there was a requirement to establish the new wallet. It was an issue for some users. Find out the whole story here.

” 1) your platform had listed DOGE back in 2019, at v1.14.0 2) had transactions stuck in the wallet 3) had upgraded the wallet to v1.14.2 4) AND then updated to v1.14.5 — you can have an issue.”

Binance claimed that they didn’t publicly announce the issue since they simply wanted to ensure that the issue was resolved without causing any further problems. That’s why they block all Dogecoin payments for 1634 Binance customers.

Furthermore, Binance stated that they have resolved the issues that were related to the issue that had been in the process for over 17 days. Also, the exchange is grateful for Tesla Chief Executive Officer Elon Musk as well as Binance CEO Zhao for their support in the matter.

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