3 ways scammers will try to fool you over Ethereum’s Merge
Besides fake ETH 2.0 tokens and malicious token airdrops, crypto users should also be on the lookout for staking pools offering attractive staking yields. Scammers are likely to use excitement around the Ethereum Merge to launch new scams aimed at newbie crypto users, PolySwam CEO Steve Bassi has warned. The Ethereum Merge is expected to take place within the next 24 hours.Speaking to Cointelegraph, Steve Bassi, founder, and CEO of PolySwarm said these scams could come in the form of fake ETH 2.0 tokens, fraudulent mining pools, and fake airdrops. PolySwam is a decentralized cybersecurity....
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The crypto exchange also warned users against scammers offering ETH2 tokens, saying users did not need to take additional action to receive staked ETH prior to the Merge. United States-based cryptocurrency exchange Coinbase has announced it will be temporarily suspending certain token deposits and withdrawals when Ethereum’s core developers transition the blockchain to proof-of-stake, or PoS.In a Tuesday blog post, Coinbase product manager Armin Rezaiean-Asel said that during the Merge event, the crypto exchange will “briefly pause” deposits and withdrawals of Ether (ETH) and ERC-20 tokens....
The Merge has successfully been implemented into Ethereum’s third and final testnet, Goerli, after previously adding Merge support to the testnets Sepolia and Ropsten. The Merge was added to Goerli at approximately 9:45 p.m. (EST) on Wednesday, transitioning to a full proof-of-stake (PoS) network.
Goerli’s Merge Transition Is Complete, Vitalik’s Father Dmitry Buterin Says Ethereum Will ‘Reduce Energy Consumption by -200x’
The Merge is getting closer by the day, and it’s expected to take place during the week of September 19, according to....
The mammoth task of merging Ethereum’s mainnet and Beacon Chain is finally complete, but what are the risks? What are the risks and flaws of the Ethereum merge?One of the foremost concerns regarding the Merge is that of centralization. Another potential concern is the risk of scams, as the general public may not be aware of how the Merge works.A fundamental flaw in the Merge is that it will likely increase the concentration of power within the network. The more valuable a staker’s position is, the more they will be rewarded for validating blocks. This could lead to a situation where a....
An increase in staked ETH, lucrative yield on liquid staked ETH tokens and deflationary tokenomics are possible bullish factors for Ether’s price. The shift of the Ethereum blockchain to a proof-of-stake (PoS) protocol opened new opportunities for developers and investors to explore, including the burning of Ether (ETH). Now, Ethereum transactions are validated through staking rather than mining.Staking impacts the supply and price dynamics of Ether in ways that are different than mining. Staking is expected to create deflationary pressure on Ether, as opposed to mining, which induces....
There’s a lot of hype surrounding Ethereum’s Merge. But in reality, most users aren’t going to notice much change. As we approach the date of Ethereum’s Merge, users have speculated about what it will mean for projects and the wider ecosystem. Some argue the Merge will have little impact on gas fees and believe transaction speeds might improve.However, in general, most ordinary users will not notice much change. The real changes for average users will only be seen after the sharding mechanism is introduced six months later.The Merge will reduce energy consumption and increase securityThe....