Chainlink ditches Ethereum PoW forks for PoS after The Merge
The Chainlink protocol will continue operations on Ethereum after the upcoming Merge to the proof-of-stake consensus layer. Chainlink is aligning itself with the decision of the Ethereum Foundation and its community. Therefore, forked versions of the Ethereum blockchain, which includes proof-of-work (PoW) forks, will no longer be supported by the Chainlink protocol post-Merge. In an official announcement, the Chainlink protocol revealed that its services will remain on the Ethereum blockchain post the long-awaited Merge. The Ethereum blockchain anticipates the Merge in September 2022,....
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Data shows the Ethereum Proof-of-Work forks have sharply fallen down in the few days following the merge. Ethereum PoW Forks Have Fallen 66% In Just Five Days According to the latest weekly report from Arcane Research, the ETH PoW forks have performed very poorly against ETH since the merge. The much talked-about event transitioned Ethereum to a Proof-of-Stake consensus mechanism, essentially obfuscating the use of miners on the network. However, some communities that were in favor of the old PoW-based system decided to create forks as the merge came approaching. These new forks still rely....
The NFT marketplace said that while they do not speculate on forks, the team will only support NFTs on the proof-of-stake chain. As the date for the Ethereum Merge approaches, nonfungible token (NFT) marketplace OpenSea has announced that it will focus on supporting only the NFTs that are on the upgraded proof-of-stake (PoS) blockchain. In an announcement on Twitter, the NFT marketplace said that while their team is not speculating on any potential forks, as it clarified that if there are forked NFTs, they will not reflect on OpenSea as the platform will only support the upgraded chain.....
With the Ethereum Merge event now successfully completed, new proof-of-work (PoW) forks have emerged to vie for miner acceptance. This, as the United States government, has warned that the post-quantum world is getting closer, and vulnerable cryptography will need to be protected. Amidst red hot inflation in the U.S., President Joe Biden notes that gas prices have fallen, but doesn’t mention the 190 million barrels that have been tapped from the U.S. Strategic Petroleum Reserve to address the issue. Though U.S. inflation is high, the greenback is gaining great power against other....
“Should an ETH PoW fork arise following The Merge, this asset will be reviewed with the same rigor as any other asset that is listed on our exchange,” said Coinbase. Cryptocurrency exchange Coinbase has updated its information related to Ethereum transitioning to proof-of-stake to include forks that could arise.In a Thursday update to an Aug. 16 blog post, Coinbase said it would evaluate any potential forks in the Ethereum blockchain on a “case by case basis.” The crypto exchange previously said it planned to 'briefly pause' Ether (ETH) and ERC-20 token deposits and withdrawals during the....
“Should an ETH PoW fork arise following The Merge, this asset will be reviewed with the same rigor as any other asset that is listed on our exchange,” said Coinbase. Cryptocurrency exchange Coinbase has updated its information related to Ethereum transitioning to proof-of-stake to include forks that could arise.In a Thursday update to an Aug. 16 blog post, Coinbase said it would evaluate any potential forks in the Ethereum blockchain on a “case by case basis.” The crypto exchange previously said it planned to 'briefly pause' Ether (ETH) and ERC-20 token deposits and withdrawals during the....