Sunday, December 3, 2023
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • en English
    ar Arabicbg Bulgarianzh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
Crypto Miracles
Advertisement
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Ripple
    • Altcoin
    • Press Release
  • Blockchain
  • People
    • Opinion
    • Interview
  • Business
  • Technology
  • Market
  • Analysis
  • Live Price
  • Regulation
  • Guide
No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Ripple
    • Altcoin
    • Press Release
  • Blockchain
  • People
    • Opinion
    • Interview
  • Business
  • Technology
  • Market
  • Analysis
  • Live Price
  • Regulation
  • Guide
No Result
View All Result
Crypto Miracles
No Result
View All Result
Home Market

FTX to halt blockchain transfers of secondary chains for ETH as Merge approaches

September 5, 2022
in Market
Reading Time: 1 min read
0
FTX to halt blockchain transfers of secondary chains for ETH as Merge approaches
Share on FacebookShare on TwitterPinShare on Reddit


Cryptocurrency exchange FTX has announced that it shall temporarily freeze trading Ether (ETH) on several blockchains as the Ethereum Merge nears.

The halt will last until The Merge is completed as a way of taking extra precautionary measures to safeguard investors’ funds during the Ethereum upgrade.

After the Merge, Ethereum blockchain will gradually switch from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) consensus mechanism.

FTX said:

“As the ETH merge approaches, FTX will temporarily disable blockchain transfers of secondary chains for ETH to make sure that settlement is clean; the main chain ETH will stay active for longer.”

FTX’s move comes despite Ethereum developers’ assurance that the Terminal Total Difficulty (TTD) is what will allow the Merge to switch to PoS with no downtime. TTD will enable the transition based on the total mining power that will go into generating the new chain.

The Merge will not lower gas prices

Depsite switching from PoW, which is considered more costly, to PoS, which is considered to be cheaper, the Ethereum Foundation has stated that the Merge will not result to a reduction of gas prices.

An announcement from Ethereum Foundation reads:

“Gas fees are a product of network demand relative to the network’s capacity. The Merge deprecates the use of Proof-of-Work, transitioning to Proof-of-Stake for consensus, but does not significantly change any parameters that directly influence network capacity or throughout.”



Source link

Related articles

Illuvium and Team Liquid partner to bring blockchain game to the mainstream

Illuvium and Team Liquid partner to bring blockchain game to the mainstream

December 1, 2023
SEI, TIA, and Bittensor lead altcoins surge; Everlodge brings Airbnb opportunities to web3

SEI, TIA, and Bittensor lead altcoins surge; Everlodge brings Airbnb opportunities to web3

December 1, 2023
Share2Tweet1PinShare
Previous Post

Another 5,000 Bitcoin Sourced From Mt Gox Wake up After Close to 9 Years of Dormancy – Bitcoin News

Next Post

Biggest Movers: DOT, LINK Rise to Multi-Week Highs on Monday – Market Updates Bitcoin News

Related Posts

Illuvium and Team Liquid partner to bring blockchain game to the mainstream

Illuvium and Team Liquid partner to bring blockchain game to the mainstream

by cryptomiracles
December 1, 2023

Illuvium has partnered with Team Liquid to unveil the Early Access release of Illuvium: Arena game. The partnership with the...

SEI, TIA, and Bittensor lead altcoins surge; Everlodge brings Airbnb opportunities to web3

SEI, TIA, and Bittensor lead altcoins surge; Everlodge brings Airbnb opportunities to web3

by cryptomiracles
December 1, 2023

Recent network upgrade propels Celestia’s (TIA) demand. SEI hits an all-time high at $0.295, showcasing a remarkable 151% monthly surge....

Ethereum monopoly talk sparks SEC concern; whales monitoring Borroe Finance presale

Ethereum monopoly talk sparks SEC concern; whales monitoring Borroe Finance presale

by cryptomiracles
December 1, 2023

In the dynamic and often unpredictable world of cryptocurrencies, Ethereum has recently found itself at the centre of a complex...

Injective surges after latest burn auction and OKX listing - CoinJournal

Injective surges after latest burn auction and OKX listing – CoinJournal

by cryptomiracles
November 30, 2023

Injective (INJ) price surged by nearly 10% as it hit an intraday high of $18.24. The gains came as OKX...

On-chain debt securities platform Obligate launches on Base

On-chain debt securities platform Obligate launches on Base

by cryptomiracles
November 30, 2023

On-chain debt securities marketplace Obligate launches on Base Obligate is a Swiss-regulated on-chain bonds platform, while Base is an Ethereum...

Load More
Next Post
Biggest Movers: DOT, LINK Rise to Multi-Week Highs on Monday – Market Updates Bitcoin News

Biggest Movers: DOT, LINK Rise to Multi-Week Highs on Monday – Market Updates Bitcoin News

Ethereum Classic Taps All-Time High Nearing 50 TH/s Ahead of The Merge

Ethereum Classic Hashrate Taps All-Time High Nearing 50 TH/s Ahead of The Merge – Mining Bitcoin News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions.

one × 3 =

Crypto Miracles

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics, and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency.

Categories

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Business
  • Dogecoin
  • Ethereum
  • Guide
  • Interview
  • Litecoin
  • Market
  • Opinion
  • Press Release
  • Regulation
  • Ripple
  • Technology
  • Uncategorized

Recent Posts

  • Explosive Growth for Cardano Expected by 2024; Whales Flock to Arweave & InQubeta | NewsBTC
  • XRP Eyes Dethroning BNB From the 4th Position; BorroeFinance Continues to Stamp Its Authority in Web3 | NewsBTC
  • Coin Watch: $BTC’s Upside Target $40K, Downside Target $32K; $GFOX Soars 20% as Presale Surpasses $400K | NewsBTC

Newsletter

    • About Us
    • Contact Us
    • Privacy Policy
    • Terms and Conditions

    cryptomiracles.com © 2021 All rights reserved.

    No Result
    View All Result
    • Home
    • Crypto News
      • Bitcoin
      • Ethereum
      • Dogecoin
      • Litecoin
      • Ripple
      • Altcoin
      • Press Release
    • Blockchain
    • People
      • Opinion
      • Interview
    • Business
    • Technology
    • Market
    • Analysis
    • Live Price
    • Regulation
    • Guide

    cryptomiracles.com © 2021 All rights reserved.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.