Binance.US’s Cardano Gaffe Highlights Importance of Accurate Crypto Info
coinedition.com 18 July 2024 10:56, UTC Binance.US, the U.S. arm of the global crypto giant, found itself in hot water after publishing a blog post with a glaring error about Cardano’s current development stage.
The post mistakenly claimed the blockchain platform, known for its focus on scalability and sustainability, was in its third phase of upgrades, when it was actually well into its fifth, dubbed “Voltaire.” This flub sparked a flurry of corrections from Cardano enthusiasts, highlighting the need for accuracy in the fast-paced world of crypto.
However, as pointed out by Cardano Spot, an application focused on the L1 blockchain, in a post on social media platform X (formerly Twitter), the blog post contained a significant blunder by stating that Cardano is currently in its third upgrade phase with two more updates to come in the upcoming years.
Great to see this coming from @BinanceUS but it’s a bit dated!
We are already in the fifth & last phase (Voltaire) community-led governance https://t.co/xsoOhXvpr1 pic.twitter.com/fY9hheSuxs— Cardano Spot (@CardanoSpot) July 17, 2024
Binance.US acknowledged the mistake, admitting:
”Our intern did a quick edit for now, but we’ll circle back with more comprehensive updates.”
Cardano’s Voltaire phase seeks to provide “the final pieces required for the Cardano network to become a self-sustaining system,” as per their own blog post. The upgrade will result in the blockchain becoming a fully decentralized blockchain with the Chang hard fork, which is set to occur by the end of July. Recently, Node 9.0.0 was released, marking a major step towards the hard fork.
Cardano’s Voltaire phase is not just about technical upgrades. It is also ushering in a new era of governance for the blockchain. With the recent election of the Interim Constitutional Committee (ICC), Cardano has taken a significant step towards becoming a fully decentralized, self-governing system. The ICC will lead workshops and draft the Cardano Constitution, solidifying the community’s role in shaping the network’s future.
It is important to note that as per CoinMarketCap, the tenth-largest cryptocurrency and the native token of the blockchain, ADA, is up almost 14% in the past seven days. The digital asset is up 2.5% in the past hour and is trading at $0.4465 at the time of writing.
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