Binance announced that Binance Chain Mainnet’s “Galileo” hard fork will take place at the 20,300,000 block, scheduled for approximately July 15th. The decision was announced on the official blog after the new software was successfully implemented on the testnet.
All nodes and validators will upgrade to v0.6.0 until July 10, 2019.
The Galileo upgrade
Binance has a tradition of naming chain upgrades after famous scientists for their progressive ideas. This upgrade was named after Galileo Galilei.
According to the company announcement, the Binance Chain hard fork will introduce a number of new features. These include a new methodology for delisting trading pairs on Binance DEX. Currently, only the listing of new trading pairs is voted by validators.
After the Galileo Upgrade, the same principle will be applied to delisting trading pairs, improving exchange liquidity.
Another change will be to lock tokens for pre-defined periods. Hard-forkul will also bring more efficiency to the synchronization system, which will improve user experience.
New terms and Offline transactions option
Upon updating, matching logic will be easier for new users to understand by entering the terms “Maker orders” and “Taker orders”.
A very new feature is the ability to make offline transactions. Users will be able to generate and sign transactions on an offline machine. Then another car can be used to run network transactions.
Binance specified that users holding token banks on platforms or wallets will not have to take special actions. The upgrade will be implemented at the nodes and validators level.
Currently, Binance Coin is traded at about $ 33 and ranks 7th in the top marketcap.