The Ronin (RON) blockchain network is scheduled for a significant upgrade and hard fork. This process is designed to enhance the network's functionality, security, and performance. Importantly, this hard fork will not result in the creation of any new fork tokens.
To ensure user assets remain protected throughout this process, deposits and withdrawals for RON and all other tokens on the Ronin network will be temporarily suspended on supporting exchanges during the upgrade window.
Service Adjustment Timeline
To facilitate a smooth network transition, the following adjustments to services will be made:
- Suspension Time: Deposits and withdrawals for RON and all Ronin-based tokens will be paused starting 15:00 on July 3, 2024 (UTC+8).
- Resumption Time: These services will be reinstated once the upgraded network is deemed stable and secure. An official announcement may not be made; users are encouraged to check their exchange’s status page for updates.
Key Points for Users During the Upgrade
It is crucial for users to understand how this maintenance period affects their activities:
- Trading and Transfers Unaffected: The suspension only impacts deposits to and withdrawals from the Ronin blockchain. Trading of RON and other Ronin token pairs on exchanges, as well as internal peer-to-peer transfers, will continue as normal.
- Asset Security: User funds remain completely secure during this period. The temporary halt of network services is a standard precautionary measure to prevent any potential issues during the chain upgrade.
For those looking to monitor the upgrade’s progress or understand the technical details, you can explore more strategies for tracking blockchain updates.
Frequently Asked Questions
Q1: What is a network hard fork?
A hard fork is a permanent divergence from the previous version of a blockchain. It involves updating the network's protocol, creating new rules that all participants must follow. This upgrade is designed to improve the network without creating a new coin.
Q2: Can I still trade my RON tokens during the upgrade?
Yes, your trading activity will not be interrupted. The temporary suspension only applies to moving tokens onto (deposits) or off of (withdrawals) the Ronin blockchain. All exchange-based trading and internal transfers will remain operational.
Q3: Why is the resumption time not specified?
The exact duration of network upgrades can be unpredictable. The resumption of services is contingent on the stable and secure performance of the new network post-upgrade. Exchanges will only reopen deposits and withdrawals once this stability is confirmed to guarantee asset safety.
Q4: Will this hard fork create a new token?
No, this is a network upgrade and not a contentious fork. Therefore, no new token will be created or distributed as a result of this process.
Q5: How can I stay informed about when services resume?
While a new announcement may not be issued, the status of deposit and withdrawal services will be updated on the exchange’s official website or status page. It is advisable to check there for the latest information.
Q6: Is there any action I need to take?
No user action is required. This is a backend network update. Simply be aware of the temporary service suspension window for deposits and withdrawals.