Zilliqa Planned Upgrade On July 5 Deposits And Withdrawals Will Be Stopped

Key Points:

• The Zilliqa Network is ready to roll out a significant upgrade with version 9.2 on July 5 at 08:00 UTC.
• The upgrade will introduce several improvements and new features to optimize performance and enhance cross-chain functionality.
• During the upgrade, the network will not be able to process transactions.

Layer 1 blockchain Ziliqa has issued a document stating that the Ziliqa mainnet is expected to be upgraded to v9. Now), the Zilliqa network will not process transactions during the upgrade period, and deposits and withdrawals are suspended.

For developers, v9.2 introduces an improved interface with enhanced search and tracking capabilities and extended development platform support.

The upgrade will introduce several improvements and new features to optimize performance and enhance cross-chain functionality. Among them, the main enhancements are enhancing interoperability between EVM and Scilla, and simplifying ERC-20 and ZRC-2 smart contracts to create, test, and launch codes alternative messages to facilitate seamless cross-chain interactions.

Other improvements include extended testing coverage for third-party EVM contracts and full backward compatibility with all Scilla contracts currently in the Scilla 0.13.3 release. This reinforces Zilliqa’s commitment to security and robust functionality.

Additionally, the upgrade includes various bug fixes, improved server-side resiliency and overall network performance improvements, the introduction of enhanced search and tracking capabilities for developers, and support for Extended development platform support.

The Zilliqa team will provide quick updates on the completion of the upgrade and appreciate the understanding and patience of all network participants during this period.

Zilliqa (ZIL) is one of the cryptocurrencies designed to solve the scalability and transaction processing problems plaguing the Ethereum network. However, the recent Ethereum consolidation and stiff competition in the Layer 2 scaling space with newer protocols offering higher throughput have declined Zilliqa (ZIL) usage.

However, the positive news about improvements from the main network update motivates the ZIL price to increase sharply by nearly 9% in the past 24 hours. Currently, ZIL is trading at $0.212.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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