Crypto wallet users are warned as scammers might get active during the potential Ethereum hard fork
The forked network will have the appearance of Ethereum, with all the apps and tokens losing their real value on it
By Shashank Bhardwaj
The much-awaited Ethereum blockchain Merge is scheduled for Thursday, September 15 at 5:05 a.m. UTC. It is a historic moment in Ethereum's evolution toward proof-of-stake. The Merge is expected to remove the need for energy-intensive mining by 99.95 per cent when compared to the existing Proof of Work (PoW) mechanism on Ethereum. Many people believe that after Ethereum switches to Proof-of-Stake (PoS), a faction of Ether (ETH) miners will fork the network back to proof-of-work (PoW) so that they can continue mining.
The forked network will have the appearance and feel of Ethereum. However, it will only be a skeleton of the real thing. All the apps and tokens will be there with no use or value. According to a Twitter thread posted by Twitter handle @EthereumPoW on Monday, Ethereum's Proof-of-Work fork will take place 24 hours after the Merge. The thread did not specify a time. However, the thread indicated that it will be 'announced 1 hour before launch with a countdown timer.'
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Coinbase is producing a movie trilogy on Bored Ape NFTsRead More..
Multiple Indian Twitter accounts hacked, NFT content postedRead More..
German police shut down $1.3 billion illegal darknet firmRead More..
Meta tests sale of virtual goods in metaverseRead More..
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currenciesRead More..
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu DhabiRead More..
EU limits Russians' crypto investments to 10k EurosRead More..
Coinbase suspends UPI payments in India three days after launchRead More..
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipeRead More..
In Texas, crypto miners turn to solar powerRead More..
South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
Meta working on virtual money 'Zuck Bucks': reportRead More..
Germany closes Russian darknet marketplace HydraRead More..
Britain paves way to accept stablecoinRead More..
Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..