Cryptocurrency

Coinbase rolls out plans for users on Ethereum Merge

With the Ethereum mainnet merger scheduled for mid-September, Coinbase explained several measures it will take to ensure the safety of its users.

of Announcement on blogCoinbase explained that it will temporarily suspend new Ethereum (ETH) and ERC-20 token deposits and withdrawals to allow the merge transition to be reflected in the system. , status page.

“We aim to support Merge with as little friction as possible for our users, without compromising security. twitter When status page As more information becomes available. ”

The merger is set to affect the crypto economy in all its aspects, and while it is not expected that the network will be affected by the merger, malicious actors want to make the most of this opportunity. I’m here. For example, Coinbase warned users against scammers who promised to upgrade their ETH to ETH2.Ethereum Foundation Quotes response In response to the scam warning, Coinbase reminded users that nothing needs to be done on their part to switch to the new ETH token.

What Merger Means for Different Coinbase Customers

According to the Coinbase blog, the primary Coinbase customers affected by the merger are Cloud customers, Coinbase Prime customers, and Coinbase Commerce customers.

The exchange recommended that Prime customers refrain from initiating withdrawals before or during the integration.

“We recommend that you initiate withdrawals or deposits prior to this date or after the merge is complete. We provide our customers with specific guidance on SLAs.”

Blockchain developers relying on Coinbase Cloud services routinely experience 10 minutes of upgrade downtime prior to integration. Any other information required will be passed on to the developer over time.

“Customer infrastructure should experience little to no downtime when a Merge block is handed in, and changes are backwards compatible. We will keep you informed of any other actions required.”

For Coinbase Commerce users, new payments will be put on hold until the integration is complete, and any payments in progress will be paused until the integration is complete.

Coinbase previously Reliable Neutrality of Ethereum.

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