• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Saturday, January 28, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

OKX issues service update ahead of ETH merge

August 27, 2022
in Blockchain
Reading Time: 4 mins read
A A
ShareShareShareShareShare

Related articles

Biggest Crypto Gainers Today – January 27

January 28, 2023

U.S. Representative French Hill offers insights into digital asset regulations

January 27, 2023

Crypto trading app OKX has released a service update to prepare its users for the imminent ETH Merge. The crypto app issued the service update in a press release conveyed on its platform. OKX, in the update, highlighted its protocols, information on asset protection, and the basis of the much-anticipated merge.

According to OKX, a new token may be initiated during a hard fork. This has necessitated its resolve to take numerous precautionary measures to reduce the trading risks occasioned by price instability during the hard fork. The protocol intends to take full responsibility for protecting the assets of its users. OKX reiterates its readiness to aid users in dealing with any technical issues that may arise during the Merge.

How is the ETH Merge expected to manifest?

Ethereum Foundation had announced that the merge would unfold when Ethereum Mainnet attained a block height of 15,540,293. According to reports, this development is predicted to manifest between September 10-20, 2022. Also, as designed, the merge will unfold in two phases, Bellatrix and Paris. Ethereum foundation says Bellatrix runs as a consensus layer upgrade to enable the Beacon Chain “Merge aware.” This stage, as reported, will manifest when the Beacon Chain attains the height of 144,896 by September 6, 2022 (UTC).

On the other hand, Paris serves as the execution layer’s transition from proof-of-work (PoW) to proof-of-stake (PoS). Ethereum foundation says this stage is likely to manifest when Ethereum’s PoW chain secures a Terminal Total Difficulty (TTD) value of 58,750,000,000,000,000,000,000 by September 15, 2022 (UTC). This stage will see Ethereum’s execution layer merging into the proof-of-stake Beacon Chain. Ethereum’s PoW chain will shut down afterward, marking the Merge’s completion.

OKX wants users to deposit ETH before the time

Ahead of the merge, OKX is urging all users to secure their assets by depositing ETH to its network on time. The crypto trading app promises to handle any technical complications that will likely arise from the Merge.

OKX further announced its plan to halt ETH and other Ethereum-oriented (ERC-20) token deposits and withdrawals during the two upgrade events. According to the protocol, if the merge does not produce new tokens, it will resume “ETH and ERC-20 token deposits, withdrawals, and cross-chain bridge services once we confirm that the Ethereum Mainnet is stable and secure.”

OKX said if the merge produces new tokens, it “will treat the tokens generated on the Ethereum PoS chain as “ETH” and treat tokens generated on the Ethereum PoW chain as forked tokens.”

The crypto trading platform insisted that the merge would not impact trading for ETH cross and isolated margin pairs. However, it intends to “suspend ETH margin and VIP borrowing services.” It may “adjust the margin borrowing interest rate based on market conditions.”

Similarly, OKX further states that “the Merge will not affect ETHUSD options trading.” However, the platform encourages users to reduce or close their positions, reduce their leverage, or increase the margin in advance as “ETH prices might experience extreme fluctuations during the Merge.” OKX promises to instill more risk control mechanisms depending on the prevailing market conditions.

Related

Tamadoge – Play to Earn Meme Coin

Tamadoge logo
  • Earn TAMA in Battles With Doge Pets
  • Capped Supply of 2 Bn, Token Burn
  • NFT-Based Metaverse Game
  • Presale Live Now – tamadoge.io

Tamadoge logo


Credit: Source link

ShareTweetSendPinShare
Previous Post

DOT Consolidates Near $7 Level As TAMA Promises Better Outlook

Next Post

MAS takes action against liquidity issues among crypto firms In Singapore

Related Posts

Biggest Crypto Gainers Today – January 27

January 28, 2023

Join Our Telegram channel to stay up to date on breaking news coverage The bearish sentiments within the crypto industry...

U.S. Representative French Hill offers insights into digital asset regulations

January 27, 2023

To guarantee that "America remains the home for innovation in fintech and blockchain," the chairman of a recently established congressional...

Storj Price Prediction for Today, January 27: STORJ/USD Hits $0.40 Resistance

January 27, 2023

Join Our Telegram channel to stay up to date on breaking news coverage The Storj price prediction reveals that STORJ...

BTC/USD Ranges as Price Targets $24k Resistance

January 27, 2023

Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction is falling again...

Fantom FTM Crypto Price Prediction 2023 – Best DApp Platform Returns?

January 27, 2023

Join Our Telegram channel to stay up to date on breaking news coverage Fantom crypto has soar in price recently....

Load More
Next Post

MAS takes action against liquidity issues among crypto firms In Singapore

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

OpenSea’s dominance shrank 23% in 2022

December 31, 2022

Regulatory Onslaught Is Just Beginning – Regulation Bitcoin News

January 18, 2023

What’s the true value of crypto? It lays bare the lies of libertarians – The Guardian

January 17, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Goldman Sachs Ranks Bitcoin Best Performing Asset so Far This Year – Markets and Prices Bitcoin News
  • New York introduces bill to legalize crypto payments for state purposes
  • Lawyer Predicts Grayscale’s Win Against The SEC In Supreme Court

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$23,098.001.31%
  • ethereumEthereum(ETH)$1,597.021.63%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.06%
  • usd-coinUSD Coin(USDC)$1.000.17%
  • binancecoinBNB(BNB)$307.361.65%
  • rippleXRP(XRP)$0.4123181.43%
  • binance-usdBinance USD(BUSD)$1.000.01%
  • cardanoCardano(ADA)$0.3894904.41%
  • dogecoinDogecoin(DOGE)$0.0875923.15%
  • matic-networkPolygon(MATIC)$1.146.04%
  • okbOKB(OKB)$37.856.35%
  • solanaSolana(SOL)$24.412.40%
  • staked-etherLido Staked Ether(STETH)$1,593.531.68%
  • polkadotPolkadot(DOT)$6.583.19%
  • shiba-inuShiba Inu(SHIB)$0.0000122.86%
  • avalanche-2Avalanche(AVAX)$20.8817.03%
  • litecoinLitecoin(LTC)$88.562.09%
  • tronTRON(TRX)$0.0631752.64%
  • uniswapUniswap(UNI)$6.812.67%
  • daiDai(DAI)$1.00-0.05%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,083.001.50%
  • cosmosCosmos Hub(ATOM)$13.655.50%
  • ToncoinToncoin(TON)$2.566.51%
  • leo-tokenLEO Token(LEO)$3.987.11%
  • chainlinkChainlink(LINK)$7.404.94%
  • moneroMonero(XMR)$180.076.18%
  • ethereum-classicEthereum Classic(ETC)$21.982.39%
  • AptosAptos(APT)$17.961.08%
  • bitcoin-cashBitcoin Cash(BCH)$134.050.70%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.0932342.34%
  • apecoinApeCoin(APE)$6.283.41%
  • quant-networkQuant(QNT)$151.813.19%
  • nearNEAR Protocol(NEAR)$2.574.66%
  • crypto-com-chainCronos(CRO)$0.0818132.94%
  • filecoinFilecoin(FIL)$5.441.78%
  • lido-daoLido DAO(LDO)$2.384.56%
  • algorandAlgorand(ALGO)$0.2602997.43%
  • vechainVeChain(VET)$0.0247765.49%
  • hedera-hashgraphHedera(HBAR)$0.0689323.95%
  • internet-computerInternet Computer(ICP)$6.025.20%
  • axie-infinityAxie Infinity(AXS)$11.712.57%
  • decentralandDecentraland(MANA)$0.729.31%
  • aaveAave(AAVE)$86.920.48%
  • the-sandboxThe Sandbox(SAND)$0.776.01%
  • eosEOS(EOS)$1.111.07%
  • fantomFantom(FTM)$0.466435-3.62%
  • flowFlow(FLOW)$1.102.29%
  • elrond-erd-2MultiversX(EGLD)$44.963.93%