Cryptocurrency exchange Coinbase has released guidelines ahead of the long-awaited Ethereum (ETH) Merge upgrade. The Ethereum Merge will transition the network to a Proof-of-Stake (PoS) protocol from an existing Proof-of-Work (PoW) protocol.
The upcoming Merger is aimed at improving energy consumption and reducing carbon footprints that are produced by the existing PoW technology. The upgrade also intends to enhance the speed, efficiency, and scalability of the ethereum ethereum ເຄືອຂ່າຍ Blockchainເຕັກໂນໂລຊີ ຜູ້ຕິດຕາມ: 0 ເບິ່ງຂໍ້ມູນ network so that it can go around the bottlenecks and process more transactions simultaneously.
Coinbase Gets Involved
ໃນເດືອນສິງຫາ 16, coinbase coinbase [email protected] ການແລກປ່ຽນສູນກາງ ຜູ້ຕິດຕາມ: 0 ເບິ່ງຂໍ້ມູນ ຈັດພີມມາ a blog post stating that the exchange is set to briefly pause all withdrawals and deposits involving Ethereum until the entire Merge migration scheduled for around September 15 is completed.
The exchange declared that the move is just a precautionary measure to ensure smooth trading of ETH and other ERC-20 tokens after the migration is executed. Coinbase approved of the transition by stating that Ethereum will provide the users with a seamless experience thereafter.
Coinbase stated in the blog:
“During the Merge, Coinbase will briefly pause new Ethereum and ERC-20 token deposits and withdrawals as a precautionary measure. Although the Merge is expected to be seamless from a user perspective, this downtime allows us to ensure that the transition has been successfully reflected by our systems.”
Investor Interest Spikes
Notably, the Merge was initially scheduled for September 19. However, the date was revised in an update shared by Ethereum co-founder vitalik buterin vitalik buterin ຜູ້ຮ່ວມກໍ່ຕັ້ງ at ethereum, Bitcoin Magazine Vitalik Buterin ເປັນນັກຂຽນໂປລແກລມມືອາຊີບແລະນັກຂຽນທີ່ມີຊື່ສຽງເປັນຜູ້ຮ່ວມກໍ່ຕັ້ງຂອງ Ethereum. Buterin ພ້ອມກັບ Gavin Wood, Charles Hoskinson, Joseph Lubin, ແລະ Anthony Di ເປີດຕົວ Ethereum ໃນປີ 2014. ລາວຮ່ວມສ້າງ Ethereum ເມື່ອລາວເຂົ້າໃຈວ່າລາວສາມາດສ້າງສະບັບໃຫມ່, ອາດຈະປັບປຸງໂດຍການເຮັດຊ້ໍາໃນ Bitcoin blockchain.
ລາວໄດ້ມີສ່ວນຮ່ວມໃນຊຸມຊົນ Bitcoin ຕັ້ງແຕ່ປີ 2011, ຂຽນແລະຮ່ວມກໍ່ຕັ້ງບົດຄວາມສໍາລັບວາລະສານ Bitcoin. Vitalik ໄດ້ເຊື່ອມຕໍ່ Bitcoin ກັບເຄື່ອງຄິດເລກແລະ blockchain ໃນອະນາຄົດກັບໂທລະສັບສະຫຼາດແລະນໍາໃຊ້ວິທີການດຽວກັນຂອງການປັບປຸງຄວາມເຂັ້ມແຂງຂອງລະບົບໂດຍການເຮັດໃຫ້ມັນມີຈຸດປະສົງທົ່ວໄປຫຼາຍໃນພື້ນທີ່ເຄືອຂ່າຍ blockchain.
ລາວໄດ້ຮັບລາງວັນ Thiel Fellowship Award ໃນປີ 2014 ສໍາລັບການນໍາເອົາໂຄງການວິທະຍາສາດແລະເຕັກນິກທີ່ສ້າງສັນຂອງລາວໄປສູ່ຄວາມເປັນຈິງ, ຊະນະລາງວັນເຄືອຂ່າຍເຕັກໂນໂລຢີໂລກ, Fortune 40 under 40 lists, ແລະໄດ້ປາກົດຢູ່ໃນບັນຊີລາຍຊື່ Under 30 ຂອງ Forbes ໃນອາຍຸ 23 ປີ. ຜູ້ປະກອບການນັກພັດທະນາ/ໂປຣແກຣມເມີຜູ້ຂຽນ ຜູ້ຕິດຕາມ: 0 ເບິ່ງຂໍ້ມູນ . As reported by Finbold, the date was revised due to fixing the number of hashes left to mine.
Nevertheless, the Merge is considered a catalyst for Ethereum’s rally. The asset has been recording an increased interest from investors ever since the announcement of the upgradation. CEO of cryptocurrency investment firm Galaxy Digital, Mike Novogratz, said that he considers the Ethereum upgrade as a point for attracting capital inflow into the asset.
Will The Other Assets Be Impacted By The Change?
Coinbase highlighted that other assets would not be impacted by a break in ETH transactions.
"ພວກເຮົາບໍ່ຄາດຫວັງວ່າເຄືອຂ່າຍຫຼືເງິນສະກຸນເງິນອື່ນໆຈະໄດ້ຮັບຜົນກະທົບແລະຄາດວ່າຈະບໍ່ມີຜົນກະທົບຕໍ່ການຊື້ຂາຍສໍາລັບ ETH ແລະ ERC-20 tokens ໃນທົ່ວຜະລິດຕະພັນການຄ້າສູນກາງຂອງພວກເຮົາ."
The exchange also cautioned users of possible scammers intervening during the merge. Coinbase stated, “It’s important to always be on high alert for scams, but especially leading up to the Merge. We recommend you don’t send your ETH to anyone in an attempt to “upgrade to ETH2” as there is no ETH2 token. Your assets will be safe and secure during this period and no action is required to upgrade on your part.”
On August 10, Ethereum completed the Goerli public testnet merge which was its final trial before the migration from Proof-of-Work (PoW) to Proof-of-Stake (PoS) on the mainnet. Six years in the making, this milestone is aimed at reducing energy consumption for the Ethereum network by a projected 99.95% in comparison to its earlier PoW version.
ETH 2.0 is notably an upgradation of the existing platform and not a new platform. With ETH 2.0 running in the future, the fragments of ETH will always stick around.
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Source: https://coinpedia.org/exchange-news/coinbase-to-pause-all-ethereum-transactions-during-the-merger-event/