The firm Binance posted last September 9th, 2029, a statement connected with an announcement that it had made on its blog, in which the exchange house indicates that it will support the NULS mainnet 2.0 update. It decided to suspend all withdrawals and deposits of NULS on September 11th at 10:00 a.m. (UTC).
The exchange house confirmed in a post on its blog’s front page that it would accept the upgrade and would stop all transactions in NULS since September 9th. This will be done with the objective of allowing some time until the updates are completely functional.
According to the blog post, all previous NULS deposit addresses will be updated after the upgrade of the NULS mainnet is completed and old NULS addresses will no longer be able to receive NULS. Binance will make a separate announcement after completing the update to notify users when NULS withdrawals will open again.
NULS is the world’s first public chain project that offers microservice infrastructure built into blockchain and sets a new industry standard to simplify blockchain adoption. The launch of the NULS mainnet 2.0 version is expected to occur in the fourth quarter of 2019. The design idea for the NULS Mainnet 2.0 version was introduced in the fourth quarter of 2018.
In a blog post on July 26th, 2019, the company provided some details about this update. NULS said that they have completed the construction of NULS 2.0 and the mainnet will be launched very soon. The specific process of updating the NULS 1.0 network to the NULS 2.0 network will first be deepened in the Testnet and, once it is completed, will be implemented in the mainnet.
This simulated update in the Testnet had to be completed in 2 phases. At first, the Testnet should be changed from version 1.0 to version 1.3.0. Its main objective was to update the protocol and so, when the Testnet 1.3.0 version stopped packaging the transaction, the company launched the NULS 2.0 Beta 2 version and launched the NULS 2.0 Testnet.
On August 21st, 2019, NULS informed that, thanks to the cooperation of the members of the NULS community, the Testnet practice exercise from version 1.0 to version 2.0 was successfully completed. Currently, the mainnet is about to begin its upgrade procedure from version 1.0 to version 2.0. Finally, NULS will be able to enter the 2.0 era.
After the practice of updating the Testnet, the mainnet will also go through the same 2 phases as described above for the Testnet. The completion of these processes and their trial period will guarantee the success in the functions that they are aimed to perform.
Both blockchain developers and Bitcoin users will benefit from the updates of NULS Mainnet and the Testnet. Among other advantages, the adoption of blockchain technology will be simplified as there are new improvements that will ease transactions such as deposits and withdrawals. Developers can derive new applications from what they observe in these useful tools, among which are facilitating processes and ensuring security.
By Willmen Blanco