Why did Binance suspend Horizon (ZEN) network token deposits and withdrawals?

The first reason why Binance suspended Horizon (ZEN) network token recharge service is to support network upgrades. The project party expects to upgrade at a specific block height, and during this period, the replenishment and withdrawal of tokens may interfere with the upgrade process. For example, when many blockchains are upgraded, if transactions continue, it will lead to data confusion and affect the upgrade effect.

From the perspective of ensuring the safety of user assets, it is necessary to suspend recharge and withdrawal. There are many uncertainties in network upgrades, such as code vulnerabilities, node failures, etc. If the business is still normal during the upgrade process, once problems arise, user assets are very susceptible to damage. In the past, there have been similar cases, because transactions were not suspended during the upgrade, resulting in the loss of user assets.

Cooperating with the project party's actions is also a key factor. When the project party is upgrading the network, it needs a relatively stable environment to accurately control the upgrade progress and effect. Binance's suspension of charge and withdrawal can allow project parties to focus on promoting upgrade work and improve the success rate of upgrades.

Maintaining the stable operation of the platform cannot be ignored. If the Horizon (ZEN) network token recharge service continues during the upgrade period, it may cause congestion in the platform transaction. A large number of charge requests will occupy network bandwidth and server resources, affecting the normal development of other services on the platform.

Furthermore, Binance follows industry practices. Among many similar network upgrade events, most trading platforms will choose to suspend the recharge and withdrawal of related tokens. This has become a common practice to ensure the smooth upgrade and protect the interests of all parties.

Technology docking needs also prompted Binance to make this decision. After the network is upgraded, its technical architecture may change. Binance takes time to adjust its own system accordingly to achieve seamless connection with the new network and ensure safe and efficient operation of subsequent charging and withdrawal services.

In addition, avoiding potential risks is an important consideration. During the upgrade period, the market's response to Horizon (ZEN) network tokens is unpredictable. If the charge is opened, it may cause significant price fluctuations and cause unnecessary losses to users. Suspension can avoid such risks to a certain extent.

Binance's attitude of being responsible to users is fully demonstrated in this decision. By suspending the charging and withdrawal service, users will be provided with a safer and more reliable trading environment, which will help enhance users' trust in the platform and promote the long-term and stable development of the platform.