Saturday, December 3, 2022
HomeETHCrypto exchange Poloniex claims "The Merge" is possible trigger for building Ethereum...

Crypto exchange Poloniex claims “The Merge” is possible trigger for building Ethereum fork

On Monday, In an official posting, Poloniex discussed the importance of this event as a possible trigger for the construction of an Ethereum fork or many. An Ethereum fork is a distinct version of the Ethereum protocol that continues to operate under a PoW consensus. ETH is now one of the cryptocurrencies that is mined the most and has been embraced the most in the crypto industry.

“The Merge” will get support from the prestigious cryptocurrency exchange Poloniex, which was the first trading venue to handle both Ethereum and Ethereum Classic. An unprecedented measure will be taken by the exchange in order to guarantee that all users, communities, and industries will be able to continue operating in the area within a market that is both stable and sustainable.

Ethereum, now the second largest cryptocurrency in terms of market capitalization, is on the cusp of entering a brand-new age. In September, the Proof-of-Stake (PoS) consensus blockchain will successfully replace the Proof-of-Work (PoW) consensus blockchain that Ethereum has been using since its inception. The cryptocurrency sector as well as the ecosystem around Ethereum will be completely revolutionized as a result of this occurrence.

If the community does not opt to back and continue mining an ETH fork, then all of this processing power and the whole ETH mining industry might vanish. His Excellency Justin Sun, a diplomat who is also a prominent investor in the cryptocurrency business and in Poloniex, recently brought attention to the important part that the platform has played in other instances that were comparable to this one.

Read more at Cryptoshrypto:
Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

four × 4 =

- Advertisment -

Most Popular