Openea opts for Ethereum Proof-of-Stake Post Merge
Openea opts for Ethereum Proof-of-Stake Post Merge
- OpenSea has processed a trading volume of $ 31 billion $ 31 billion since it was founded
- other platforms will not necessarily follow the selective attitude of OpenSea, a crypto manager told Blockworks
OpenSea will support the proof-of-stake etherow chain as soon as the highly expected upgrade of the network-the merger-is completed.
The Ethereum merge will shift the blockchain from its current proof-of work consensus to a more environmentally friendly version that is 99.9 % more energy-efficient. The event-which is expected to take place on or around September 15th-has caused many crypto platforms to prepare for the change.
"Firstly and above all, we undertake to support NFTs exclusively on the updated Ethereum POS chain," said OpenSea in A Twitter-Thread on Thursday.
It also referred to potential Ethereum pow forks that could try to start alternative chains. In particular, existing non-fungible tokens (NFTS) are no longer supported on Ethereum's proof-of-work mechanism or reflected on the OPENSEA marketplace.
OpenSea is the largest NFT marketplace for crypto collectors on the Ethereum blockchain and has reached a trade volume of $ 31 billion since its introduction in December 2017. dappradar-daten shows.
Many branded the upcoming transition from Ethereum as a crucial moment for the blockchain room. Most platforms that are currently running on Ethereum will also support the POS chain, otherwise they would be effectively excluded from the ecosystem, according to ASAF Naim, CEO of the decentralized application developer Kirobo.
"However, I do not expect these platforms to follow the selective attitude of Openea," Naim told Blockworks. "I assume that we will see that these platforms are inclined to also support a paired chain that remains on Pow."
"It is worth noting that every potted chain will remain behind the new POS chain in terms of use and the price," added Naim.
The StableCoin provider Circle has taken a attitude like OpenSea and explains that this will be the case
In addition to OpenSea, several platforms have also announced emergency plans to support the transition. Defi-loan protocol ave recently suggested to fusion, which is based on potential problems indicates in liquidation transactions due to the high occupancy. nft-Marktplatz Looksrare also
crypto exchanges have also announced support for the Merge crossing, but in contrast to OpenSea, some are possibly an oncoming to Ethereum Forks. Coinbase becomes briefly pause ERC-20-token-in and withdrawals as a precautionary measure. Both coinbase and Binance To listen ETH-POW-FORKS if they arise after the merger. take part in Europe's leading institutional crypto conference. Use the code London250 to get $ 250 discount on tickets - only this week! The contribution OpenSea opts for Ethereum Proof-of-Stake Post Merge is not a financial advice. Web3 platforms are preparing for the merge
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