Cryptocurrency exchange Binance said it will support upgrades on its Ethereum and Tezos networks. Gray Glacier and Jakarta 2 upgrades are scheduled for June 30 and 27 respectively.

On the Ethereum blockchain, the update will be activated at block height of 15,050,000. With current network features, this will happen on June 30 at approximately 12:05 PM (Kyiv / Moscow time). One hour before the code is implemented, Binance will suspend deposits and withdrawals in ETH and ERC-20 tokens.

#Binance It will support the Ethereum Network $ETH upgrade.https://t.co/q8RGUQFh9e

— Binance (@binance) 23 June 2022

The Gray Glacier update delays the activation of the “difficulty bomb” by 700,000 blocks, or approximately 100 days. This mechanism predetermines the block number as part of the Proof-of-Work algorithm, where the network complexity increases and the miners’ reward decreases accordingly.

“Over time, this tool increases in complexity exponentially, which eventually leads to what is called the “ice age” – blockchain miners get so hard to work that they stop and stop producing blocks,” the description on EthHub says.

This mechanism is intended to encourage developers to move towards the transition to Proof-of-Stake (PoS), but some community members consider it pointless as the project team can delay activation at any time.

Speaking to CoinDesk, ConsenSys product manager Ben Edgington described the mechanism as “one of the weirdest things about Ethereum.”

“In terms of the developer forcing feature, I don’t think the mechanism works really well. This is illustrated with forks focusing solely on the bomb. We will do the third one,” he said.

Edgington noted that delaying the activation of the bomb won’t have much of an impact on The Merge’s timing. Earlier, Ethereum co-founder Vitalik Buterin cited August as the most likely time to switch to PoS.

Jakarta 2 update #2 490 for Tezos network will be activated at block height of 369. According to Binance, this will happen on June 28 at approximately 02:27 (Kyiv/Moscow time). An hour before the Fock, the platform will also suspend deposits and withdrawals on XTZ.

#Binance will support @tezos $XTZ network upgrade.https://t.co/o8h4hg63dJ

— Binance (@binance) 23 June 2022

The update aims to fix two “critical bugs” found in the Jakarta protocol. Second, the L2 solution should increase network throughput through the implementation of Optimistic Aggregations.

Recall that in June Tether launched the USDT stablecoin on the Tezos blockchain platform.

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