The US-based crypto exchange Poloniex announced that they are going to update the XRP wallets on Monday that will reduce the suspension time of transactions from 20 minutes to 15 seconds.
Deposits and Withdrawals will remain Suspended for Maintenance
This up-gradation is going to take place on Monday according to the tweet by the platform. They also mentioned that trading of tokens will not be affected but deposits and withdraws will be suspended during the time period of maintenance.
According to the announcement:
On Monday, we will be upgrading our #XRP wallets in order to introduce an enhanced user experience. Trading will be unaffected but deposits and withdrawals will be suspended during maintenance. We expect maintenance to begin around 15:15 UTC and last several hours.
he giant crypto exchange Poloniex is working diligently to improve the platform so that its customers and users will have no problem at all. This initiative on the part of the platform is the enhancement of users’ experience. It is currently offering more than 60 digital assets for traders including Ripple coin.
Ripple coin which is ranked on number three by market capitalization is continuously paving its path towards success due to its remarkable and efficient blockchain technology. Recently, it was nominated in the top hottest growing startups list published by LinkedIn. Now, its services on the Poloniex platform are going to be improved just for Ripple fans.
What will be the Improvements?
After the implementation of this new up-gradation, one will not have to place 20 XRP for the creation of an account. Currently, there are 12 folds of confirmations for the successful transactions which will be reduced to 2 times due to this upgrade. Moreover, the suspension time of the transaction will be decreased from 20 minutes to only 15 seconds.
It is also supposed that new deposits will now require a destination tag for the recognition of users. This procedure is already active on most of the exchanges. The destination tag means a complex code that is necessary to link the transaction to a specific account.
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