How Does the Ethereum Merge Affect Your blockchain.com Account?

Get Ready as Ethereum’s Merge Is Anticipated For Mid-September

What to expect from Blockchain.com during the Ethereum merge

What is this merge all about? It is an upgrade of the Ethereum blockchain network in a bid to change from the conventional system of proof of work (PoW) to proof of stake (PoS). The main idea behind this is to solve the problem of high energy consumption which is a problem of cryptocurrencies that uses the proof of work (PoW) system. This also is a groundbreaking move that will bring about advancement and improvement of operations in the crypto industry.

What are the implications of this Ethereum merge to the customers of Blockchain.com?

The first thing they must know is that their deposited cryptocurrencies are safe with Blockchain.com. The process of merging will not affect them at any time whether before the process, during the process or after the process. However, during the process of the merging, blockchain.com will have to put on hold some specific features of the Ethereum and ERC-20 tokens. This is just to take some necessary precautions.

The Following Features of the blockchain.com Wallet Will Be Temporarily Suspended While the Merging Is in Progress

• Transactions involving withdrawal, deposit swapping sales and purchases, in Ethereum and ERC-20 Accounts.
• In The Ethereum and ERC-20 reward accounts, savings and withdrawals will be disabled temporarily.
• There will be Delays in deposit and withdrawal in the Ethereum and ERC-20 private key wallet.

The merging process should last for a few hours. And the features will soon be available to customers after the upgrade is completed. As we monitor this event, we shall update you on the latest developments concerning the Ethereum network upgrade and any other information that you may need to know about the whole process.

 

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