OpenSea Says 'No' To Any Fork Of Ethereum (ETH) After The Merge

2 years ago · Updated 2 years ago

✍️ 2 September, 2022 - 8:13 👤 Editor: Jakub Motyka

OpenSea has announced that it will only support the Ethereum (ETH) mainnet following The Merge update this month.
Removed , therefore, the possibility that forks that may arise with the update may have a place in your NFT market.

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OpenSea says "no" to Ethereum (ETH) forks that will in all likelihood gain prominence after The Merge update of the Ethereum network. The world's largest NFT buying/selling market has announced that it will 100% support the next Ethereum The Merge update, which will take place between September 10 and 20.

In a few days, Ethereum (ETH) will end forever the mining of this cryptocurrency to move to a much cleaner system with the environment, the PoS ( Proof-of-Stake). With this new system, it will no longer be necessary to mine Ethers to validate operations on the network.

OpenSea Will Only Support Ethereum (ETH) In Its New Proof Of Stake Model

In a thread of tweets about the imminent arrival of The Merge to Ethereum, OpenSea wanted to make clear its commitment to the updated Ethereum network to the PoS (Proof of Stake) system . This means that, after the update, all operations with NFTs that occur in this marketplace will be validated by the network that will have already left behind the old PoW (Proof of Work) system.

3/ While we won’t speculate on potential forks–to the extent forked NFTs on ETHPoW exist–they won’t be supported or reflected on OpenSea.
— OpenSea (@opensea) August 31, 2022

In this way, OpenSea has confirmed that it will not accept any Ethereum fork in its NFT trading network. They also announce that no drop in service is expected during the update, although users should pay attention to the announcements to know the status of the update during the transition from the PoW system to the PoS system. .

Exchanges are not opposed to Ethereum forks

The exchanges for buying/selling cryptocurrencies, for their part, do seem to be somewhat more open to assessing the possibility of accepting Ethereum forks after the Merge. Coinbase, for example, announced a few days ago that it will study the ETHW fork, one of the first to appear before the update, to decide whether or not to list it on its platform.

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Juan Pais

E-mail: juan@criptokio.com

ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges.

Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras.

EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges.

I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.