Coinmerce supports the Ethereum merge
Ethereum will start migrating from Proof-of-Work to Proof-of-Stake this week. This upgrade, also known as The Merge, will take place on September 14 or 15.
Highlights:
- The Ethereum merge will take place on September 14th or 15th, 2022
- As a Coinmerce user, you don't have to do anything for this upgrade
- Deposits and withdrawals will be stopped during the upgrade
- If a second ETH token is established, Coinmerce has the intention to support it
- Buying and selling will remain active during the Merge
1. ETH Deposits & Withdrawals
Coinmerce will stop the deposits and withdrawals of ETH and ERC-20 tokens at approximately: 2022-09-15 00:00 (UTC).
Make sure to complete your ETH and ERC-20 trades well in advance of this to ensure they are correctly processed. Coinmerce trades all the technical necessities for users using ETH and/or ERC-20 tokens.
2. Regarding the Merge
There are two possible scenarios for the Ethereum merge:
Scenario A:
There will be no new token. Coinmerce will then proceed with deposits and withdrawals for Ethereum and ERC-20 tokens as soon as possible.
Scenario B:
The Ethereum chain will be split into two chains: the Proof-of-Work and the Proof-of-Stake chain. Ethereum (ETH) will continue as Ethereum Proof-of-Stake (ETH). The second token that keeps running on the Proof-of-Work chain will have a different symbol.
Coinmerce has the intention to support this new token. Still, given the uncertainty around the new chain, it is impossible to say beforehand.
To protect Coinmerce users, the potentially new token will go through the same listing process as any other cryptocurrency. Given the experience and dependence on third parties, nothing can be said about the course of this process.
Coinmerce reserves the right to edit this notice in the future.