Zcash deposit and withdrawal on Huobi will be temporarily suspended on June 25th
Zcash (ZEC) has announced that ZEC will undergo a hard fork at block height 347,500. The network upgrade which is titled “OVERWINTER” is expected to happen around 07:21 UTC+05:30, on June 26 assuming 150 seconds/block. Huobi Pro, the cryptocurrency exchange also made an announcement about the upgrade and tweeted about it. Zcash was in the news recently after the cryptocurrency was added to Bitcoin IRA platform along with Stellar Lumens (XLM).
Temporary suspension of Zcash transactions
The ZEC team recommends that deposit and withdrawal of the cryptocurrency should be suspended at least 1 hour in advance. This according to the team is to avoid failure of deposit and withdraw of Zcash coins. Huobi Pro has announced that they plan to suspend ZEC deposit and withdrawal at 21:00 on June 25, 2018 (GMT+8).
Huobi Pro’s tweet,
— Huobi Pro (@Huobi_Pro) June 20, 2018
OVERWINTER is Zcash’s first network upgrade which will ensure that any upgrades to the network in future will go smoothly. The network plans on introducing replay protection of network upgrades, mask version numbers among others. If you don’t use zcashd client and parse and sign Zcash transactions yourself, some OVERWINTER specific changes will be necessary.
Related Article: Penta (PNT) trading postponed by Huobi Pro to June 22nd
Huobi Pro says they will resume services promptly after the ZEC hard fork stabilizes. They further added that the specific time will be made known in another announcement. The exchange also added that they regret the inconvenience caused to the users in its announcement.
Penta trading postponed by Huobi
Huobi Pro also recently announced through Twitter that trading of the recently launched Penta (PNT) coin has been postponed. Penta on the other hand in response to a tweet said that it was postponed because of “HADAX system failure.” The third largest cryptocurrency exchange also plans to start operations in Australia.
The Zcash website has got some general advice to its users ahead of its upgrade. According to the website, users should keep their zcashd node updated to the latest stable version. It states that transactions will be unavailable for about an hour at the activation block height. And because the exact date of the block height varies, users can link to their countdown timer. The users will also be notified of upgrade completion and re-initiation of transactions.
Image via shutterstock
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