The IoTeX blockchain behind $IOTX is scheduled to undergo the Zanzibar hard fork next Monday morning Beijing time. Binance announced today that it will support the upgrade by suspending deposits and withdrawals on the IoTeX network; trading will continue as usual.
IOTX is the native token of the IoTeX blockchain. It’s used to pay transaction fees and to stake and vote for nodes.
The biggest change is that voting rewards will be calculated and distributed by the on-chain protocol itself, rather than being calculated by the off-chain Hermes service. From now on, voter rewards will be determined directly by the rules on the blockchain.
Nodes only need to install the new version; no configuration changes or resyncing are required. Nodes that don’t upgrade will fall out of consensus when the fork happens, so the team has been urging node operators to upgrade over the past few days.
They’ve also opened a channel this week to swap old-version IOTX for the native token at a 1:1 rate, with no fee. The goal is to reclaim the tokens originally issued on Ethereum and leave just one version. If your old-version tokens are on an exchange, withdraw them to your own wallet before swapping—don’t send them directly from the exchange.
IOTX is the native token of the IoTeX blockchain. It’s used to pay transaction fees and to stake and vote for nodes.
The biggest change is that voting rewards will be calculated and distributed by the on-chain protocol itself, rather than being calculated by the off-chain Hermes service. From now on, voter rewards will be determined directly by the rules on the blockchain.
Nodes only need to install the new version; no configuration changes or resyncing are required. Nodes that don’t upgrade will fall out of consensus when the fork happens, so the team has been urging node operators to upgrade over the past few days.
They’ve also opened a channel this week to swap old-version IOTX for the native token at a 1:1 rate, with no fee. The goal is to reclaim the tokens originally issued on Ethereum and leave just one version. If your old-version tokens are on an exchange, withdraw them to your own wallet before swapping—don’t send them directly from the exchange.