The Merge, as it is known in the cryptocurrency community, represents the culmination of six years of development and planning by Ethereum’s developers. Some proponents of cryptocurrencies have compared the critical time in ETH’s network history to Bitcoin’s quadrennial halving, which occurs every four years.
Concerning the Merge, Uniswap Labs emphasized that their online platform will support only Ethereum’s proof-of-stake. The statement indicated that the dex has no current plans to support any proof-of-work hard forks.
In fact, it has been standard practice for procedures to establish this difference in the days before the Merge. As previously reported by EthereumWorldNews, Chandler Guo, a prominent ETH miner based in China, announced his intention to fork Ethereum’s PoW chain during the PoS transition.
The action seems to be an attempt to preserve an environment in which miners remain the focal point of an ETH chain. Notably, the concept has gotten mixed support from crypto protocols and people alike.
Tron creator Justin Sun committed 1 million ETH if the plans were effective. In addition, crypto exchanges like Deribit and OKEx hinted at potential support for forked coins. In contrast, Uniswap, Chainlink, and USDC have all stated their support for the Merge, leaving no place for ETHPoW currencies.
Merge is slated to occur between September 13 and 15, according to statements from Ethereum inventor Vitalik Buterin. The Bellatrix upgrade was deployed on Tuesday, September 6, 2017.
The successful deployment represented the first of two essential phases to complete the transformation. Next, an update named Paris is anticipated to complete Ethereum’s transition to PoS.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.