In a Tuesday weblog submit, Coinbase product supervisor Armin Rezaiean-Asel said that through the Merge occasion, the crypto trade will “briefly pause” deposits and withdrawals of Ether (ETH) and ERC-20 tokens “as a precautionary measure” to deal with the migration. The trade additionally warned customers towards scammers providing ETH2 tokens, saying crypto customers didn’t must take further motion to obtain staked ETH previous to the Merge.
“Though the Merge is anticipated to be seamless from a consumer perspective, this downtime permits us to make sure that the transition has been efficiently mirrored by our techniques,” stated Rezaiean-Asel. “We don’t count on another networks or currencies to be impacted and count on no impression to buying and selling for ETH and ERC-20 tokens throughout our centralized buying and selling merchandise.”
It is lastly taking place! This is how we’re preparing for The Mergehttps://t.co/AIIUqWcDxm
— Coinbase (@coinbase) August 16, 2022
The crypto trade will seemingly not be the one one to announce precautions or adjustments in buying and selling exercise because the date for the Ethereum Merge approaches. Cointelegraph reported on Friday that although there could possibly be “unexpected circumstances,” core builders anticipated a tentative Merge date on Sept. 15.
After the Ethereum network transitions from proof-of-work to PoS, many count on its power consumption will drop precipitously, scalability will enhance, and it is going to be much less susceptible to assaults. Cointelegraph reported on Saturday, nevertheless, that ETH fuel charges may not necessarily go down and transactions on the community will seemingly not be noticeably sooner than earlier than.