A mainnet upgrade has just been completed by Binance Chain. The newest upgrade is called Galileo and was launched yesterday.
The announcement states that Galileo has made key changes that will instantly be felt by all users. After the upgrade, Taker and Maker concepts are introduced in the matching logic. This change will be very beneficial towards new users and unexpected surprised will be greatly reduced.
Additionally, Binance DEX can now be delisted as well as Binance Chain token assets now have time-lock options. There are quite a few state sync options added.
When it comes to delisting trading pairs for Binance DEX, validators are now able to vote and use reasons such as low volume of use. According to the announcement, these changes were made with the hope of increasing the overall liquidity.
The state sync enhancement was explained in details in BEP18. This new version offers minor improvements aimed at user experience.
Syncing time has been reduced and the option to resume the download of blocks has been added. Users can now specify the height from which they want to state-sync.
Galileo is probably mostly anticipated because of the time-lock feature
Galileo has also introduced the time-lock token feature. This new feature has been highly sought out by a lot of crypto projects who seek to list their assets on Binance.
Basically, some businesses like to have the option of time-locking tokens in order to secure the commitment from founders. The feature is of course also used for collateral.
Galileo is essentially a hard fork of its previous version. This also means that the current Galileo upgrade required at least a two-third consensus from validators to be successfully upgraded.
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