Binance, a leading cryptocurrency exchange, has announced a network upgrade for IRISnet (IRIS) to improve user experience. The upgrade is scheduled for May 20, 2024, and will involve a temporary suspension of deposits and withdrawals starting from 07:30 Turkey time.

According to the announcement, the network upgrade will occur at block height 25,006,118, around 08:30 Turkey time. During this time, trading of IRISnet tokens will continue uninterrupted, ensuring minimal disruption to users. Binance has assured that it will meet all necessary technical requirements to ensure a seamless transition.

The suspension of deposits and withdrawals is a precautionary measure to ensure the upgrade is completed successfully. Once the upgraded network is deemed stable, these services will be reopened. Binance has emphasized that no further announcements will be made regarding this upgrade.

This upgrade demonstrates Binance's commitment to providing a secure and efficient trading environment for its users. By investing in network upgrades, Binance aims to enhance the overall user experience and maintain its position as a leading cryptocurrency exchange.