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Binance Successfully Concluded Its Mainnet ’Galileo’ Upgrade2 min read

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Binance has reported the successful completion of scheduled Binance Chain Mainnet Galileo hardfork upgrade that took place at block height 20,300,000.

The Binance Chain Mainnet has completed the upliftment of its testnet services right after the commemoration of its second anniversary. The number one cryptocurrency exchange by volume has recently confirmed the completion of its mainnet upgrade on its both CEX and DEX platforms most-commonly referred to as The Galileo Upgrade. The upgrade was nicknamed, just in the spirit of innovative advancement, after the famous Scientist – Galileo Galilei.

What’s New?

According to the announcement, there are four major changes implemented in Galileo: the matching engine has been revised with “Taker” and “Maker” matching logic, trading pairs on Binances decentralized exchange, Binance DEX, can be delisted, Binance Chain token assets can now be time-locked and state sync options have been enhanced.

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The list of the added platform’s functionalities includes:

  • Matching Engine Revision. A user-friendly matching logic which includes Taker and Maker concepts has been introduced.
  • Delist Trading Pairs on Binance DEX. Validators on the Binance Chain can now register a delisting proposal by means of governance. This voting mechanism is set in place to outsource tokens with credit issues as well as tokens with an elongated period of a reduced trading volume with regards to one of its trading pairs.
  • Time Locking of Token Assets on Binance Chain. Now businesses can block a certain amount of tokens for pre-defined periods of time, and vest them in the future according to the schedules. For example, some projects may lock some issued tokens as a commitment by the founding team or as collateral for value.
  • State Sync Enhancement. The state sync implementation has been refactored in order to improve user experience and reduce syncing time. Now users can specify the height from which they want to state-sync.
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Commemorating the 2-year anniversary of Binance, the DEX arm of the exchange tweeted a post inviting its followers to get familiarized with more details of the updates.

Binance DEX@Binance_DEX

Chain Galileo Upgrade Complete

What’s new and improved after upgrade:
– Matching Engine Revision
– Delist Trading Pairs on Binance DEX
– Time Locking of Token Assets on @Binance Chain
– State Sync Enhancement
Full details below🔗👇👇👇https://community.binance.org/topic/694

According to the full rundown of Galileo, the latest mainnet is a hardfork of its previous version. This means Galileo required at least two-thirds consensus from validators in order to successfully upgrade from the previous version.
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