Ethereum Merge Update
The Ethereum merge is just weeks away, and as we approach the tentative deadline between
September 15th – 17th, we are getting more and more information about what Etherium will look like as it moves from proof of work to proof of stake. According to the Ethereum foundation, the merge will not reduce gas fees, writing quote
“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 throughput."
As we reported last week, the merge will still reduce the networks energy consumption by an
During the merge, Coinbase announced that they will be briefly pausing ETH and ERC-20 token deposits and withdrawals.
In a blog post, coinbase explained that the downtime will allow the exchange to
“ensure that the transition has been successfully reflected by our systems,”
going onto say
“We do not expect any other networks or currencies to be impacted and expect no impact to trading for ETH and ERC-20 tokens across our centralized trading products.”