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Binance Ends Support for BUSD Stablecoin: What It Means for Users and the Future of Stablecoins

Binance, one of the largest cryptocurrency exchanges in the world, has made the decision to end support for its Binance USD (BUSD) stablecoin. This move comes after Paxos, the company responsible for minting new BUSD coins, announced that it would be halting its operations. The transition is set to take place on December 15th, and it will have significant implications for users of the BUSD stablecoin. Automatic Conversion to First Digital USD Starting on December 31st, many users' BUSD balances on Binance will be automatically converted into First Digital USD. This conversion will take place seamlessly, and users will not be required to take any action. The transition is designed to ensure a smooth and uninterrupted experience for BUSD users. Implications for BUSD Users While the automatic conversion should minimize any disruption for BUSD users, it is important for them to be aware of the implications of this change. Once their BUSD balances are converted into First Digital US

Potential Delays for Dencun Upgrade on Ethereum: Developers Express Concerns

The potential delays facing the Dencun upgrade on Ethereum, scheduled for next month, have raised concerns among developers. The hesitation to execute the hard fork on the mainnet stems from unfinished work and significant codebase changes from the Prysm client. While execution layer clients are prepared to proceed, consensus layer client teams are expressing reservations about forking the Goerli testnet on the mainnet without completing the necessary work. As a result, no specific date has been agreed upon for the hard fork.

The concerns raised by developers regarding the Dencun upgrade are understandable given the unfinished work and codebase changes. This cautious approach reflects the importance of ensuring a smooth and successful transition for the Ethereum network.

Unfinished Work and Codebase Changes

One of the primary reasons for the potential delays is the unfinished work and significant codebase changes from the Prysm client. These changes introduce complexities and potential risks that need to be addressed before proceeding with the hard fork. Consensus layer client teams are hesitant to fork the Goerli testnet on the mainnet without fully completing the necessary work. This cautious approach demonstrates a commitment to delivering a stable and reliable upgrade.

Hesitation from Consensus Layer Client Teams

The consensus layer client teams are expressing reservations about executing the hard fork on the mainnet due to the unfinished work and codebase changes. Their hesitation is rooted in the need to thoroughly test and validate the changes before deploying them on the mainnet. By ensuring that all necessary work is completed, consensus layer client teams aim to minimize any potential disruptions or issues that could arise from the upgrade.

Readiness of Execution Layer Clients

While the consensus layer client teams are expressing concerns, the execution layer clients are ready to proceed with the hard fork. This readiness suggests that the execution layer clients have completed the necessary work and are confident in the stability and reliability of their implementations. However, without the consensus layer clients being fully on board, the hard fork cannot proceed.

No Specific Date Agreed Upon

As a result of the concerns and hesitations expressed by consensus layer client teams, no specific date has been agreed upon for the Dencun upgrade hard fork. This decision reflects the commitment to ensuring that all necessary work is completed and that the upgrade is implemented successfully. While delays may be frustrating for some, it is crucial to prioritize stability and reliability over expediency.

In conclusion, the potential delays facing the Dencun upgrade on Ethereum highlight the importance of thorough testing and completion of necessary work. The concerns expressed by developers regarding unfinished work and codebase changes underscore the commitment to delivering a stable and reliable upgrade. While execution layer clients are ready to proceed, consensus layer client teams are hesitant to fork the Goerli testnet on the mainnet without completing the necessary work. As a result, no specific date has been agreed upon for the hard fork.

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