Ouyi OKX Announces Suspension of ETH and ERC-20 Tokens Due to Shapella Upgrade on Ethereum Network

According to reports, Ouyi OKX announced that in order to support the upcoming upgrade of Shapella on the Ethereum network epoch 194048 at 6:27 on April 13, Ouyi will suspend the recharging and withdrawal services of ETH, OP, ARB, ERC-20 tokens, as well as OPTIMISM (OP), ARBITRUM (ARB), and zkSync Lite network tokens at 5:30 on April 13, and reopen the related transactions when the network stabilizes. After the upgrade of Shapella, Ouyi will increase the number of Ethereum network recharge confirmations from the current 12 blocks to 64 blocks.

Ouyi OKX will support Ethereum Shapella upgrade, and will suspend ETH, OP, ARB and other recharge services at that time

Outline:

I. Introduction
– Explanation of the announcement made by Ouyi OKX
II. What is Shapella?
– Definition of the term and why the upgrade is important
III. Suspension of Recharging and Withdrawal Services
– Explanation of the services that will be suspended
– Reason for the suspension
– Time period for the suspension
IV. Types of Tokens Affected
– List of tokens that will be affected by the suspension
– Explanation of each token
V. Ethereum Network Recharge Confirmations
– Explanation of the current number of blocks
– Reason for increasing the confirmations
– Future implications for transactions
VI. How to Prepare for the Suspension
– Suggestions for users to prepare for the suspension
– Explanation of the potential risks
VII. Conclusion
– Summary of the key points
– Final thoughts

According to reports, Ouyi OKX announced that in order to support the upcoming upgrade of Shapella on the Ethereum network epoch 194048 at 6:27 on April 13, Ouyi will suspend the recharging and withdrawal services of ETH, OP, ARB, ERC-20 tokens, as well as OPTIMISM (OP), ARBITRUM (ARB), and zkSync Lite network tokens at 5:30 on April 13, and reopen the related transactions when the network stabilizes. After the upgrade of Shapella, Ouyi will increase the number of Ethereum network recharge confirmations from the current 12 blocks to 64 blocks.

Introduction

Ouyi OKX recently announced that it will suspend the recharging and withdrawal services of various tokens, including Ethereum (ETH) and ERC-20 tokens, on April 13th in order to support the upcoming upgrade of Shapella on the Ethereum network. This decision was made to ensure that the Ouyi platform can provide its users with safe and stable services during the upgrade.

What is Shapella?

Shapella is an upgrade to the Ethereum network that aims to improve its performance, stability, and security. It was first introduced by the Ethereum developer community in December 2020, and is named after a renowned Canadian mathematician and computer scientist, Michael Shapira. The upgrade will introduce several changes to the Ethereum network, including a new transaction fee structure, the introduction of a new consensus algorithm, and more.

Suspension of Recharging and Withdrawal Services

As mentioned earlier, Ouyi will suspend the recharging and withdrawal services of various tokens, including ETH and ERC-20 tokens, on April 13th in order to support the Shapella upgrade. The reason for the suspension is to ensure that the Ouyi platform can provide its users with safe and stable services during the upgrade. The suspension will begin at 5:30 am on April 13th and will continue until the network stabilizes.

Types of Tokens Affected

The tokens that will be affected by the suspension include ETH, OP, ARB, ERC-20 tokens, as well as OPTIMISM (OP), ARBITRUM (ARB), and zkSync Lite network tokens. Each token serves a different purpose on the Ethereum network and has its own unique features.
– ETH: The native cryptocurrency of the Ethereum network, used for transactions and fees.
– ERC-20 tokens: A type of token standard that enables developers to create custom tokens on the Ethereum network.
– OP and ARB: Two layer two scaling solutions for the Ethereum network that aim to improve its performance.
– OPTIMISM (OP) and zkSync Lite network tokens: Other layer two scaling solutions for the Ethereum network that aim to improve its performance.

Ethereum Network Recharge Confirmations

After the upgrade of Shapella, Ouyi plans to increase the number of Ethereum network recharge confirmations from the current 12 blocks to 64 blocks. This means that users will have to wait for more blocks to be confirmed before their transactions are considered final. The reason for this is to improve the security and stability of the Ouyi platform and prevent any potential attacks or hacks.

How to Prepare for the Suspension

Users are advised to prepare for the suspension by ensuring that they have enough tokens and funds on the Ouyi platform before the suspension begins. They should also be aware of the potential risks involved in holding their tokens and funds on the platform during the suspension period.

Conclusion

In conclusion, Ouyi OKX has announced the suspension of recharging and withdrawal services for various tokens, including ETH and ERC-20 tokens, in order to support the upcoming upgrade of Shapella on the Ethereum network. The suspension will begin on April 13th and will continue until the network stabilizes. Users are advised to prepare for the suspension and be aware of the potential risks involved. Ouyi also plans to increase the number of Ethereum network recharge confirmations after the upgrade to improve the security and stability of the platform.

FAQs

1. Will Ouyi support the new features introduced by the Shapella upgrade?
– Yes, Ouyi plans to support the new features introduced by the Shapella upgrade.
2. How long will the suspension last?
– The suspension will last until the network stabilizes, which may take a few hours or more.
3. Will users be able to withdraw their tokens during the suspension?
– No, users will not be able to withdraw their tokens during the suspension.