Ethereum is set to transition from a Proof-of-Work (PoW) algorithm to Proof-of-Stake dubbed “The Merge” and a possible network fork. While the Merge plans to go live next month, Chainlink (LINK) noted that it would support the upgrade. Therefore, this update will ensure continuity for Chainlink protocol users on the ETH network.
Chainlink added that its protocols and services would continue to operate on the second-largest blockchain network before and after the Merge upgrade is implemented. However, the crypto project opted against supporting any potential hard fork of ETH.
“Users should be aware that forked versions of the ETH blockchain, including PoW forks, will not be supported by the Chainlink protocol,” the network noted in a statement.
“This is aligned with both the Ethereum Foundation and broader community’s decision, achieved via social consensus, to upgrade the Ethereum blockchain to PoS consensus.”
BitMEX and Poloniex Support Forked Ethereum Tokens, While OKX Hints Future Support
Justin Sun, the CEO and founder of Tron ecosystem, have shown strong support for various versions of Ethereum fork tokens. So far, Poloniex, Sun’s crypto exchange, recently announced listing numerous ETH forked coins, including ETHS and ETHW.
Additionally, popular cryptocurrency exchange OKX said it would support the Merge and evaluate all ETH forked tokens that may emerge in the future for possible listing.
Nevertheless, BitMEX said it would launch a linear futures contract for its users to get exposure to ETHPOW.
“This will mean that when our Tether- (USDT ERC-20) margin contract goes live, users will be able to get trading exposure to ETHPOW – with up to 2x leverage,”