The Merge: Ethereum’s Mainnet Upgrade

TL;DR

“The Merge” is what Ethereum calls its mainnet upgrade intended to combine the Ethereum mainnet with the Proof of Stake Beacon Chain to make it more scalable and energy efficient. This shift from a Proof of Work to a Proof of Stake consensus includes various stages and is supported by Babb Platform. Following the merge, Ethereum (ETH) and BAX (ERC20) tokens are now supported on the Proof of Stake network. We will continue monitoring possible Proof of Work Ethereum variants (if any), however Babb does not support any Proof of Work forks initially.

Intro

From the day Ethereum was announced in 2015, the company positioned itself as a major player in the Blockchain industry, offering a popular decentralized computing platform that opened doors to many projects to salvage and innovate on the blockchain technology.

The upgrades: A brief explanation

The Ethereum 2.0 upgrades include the existing Beacon Chain (already in place), The Merge, as well as the next Sharding stages to be rolled out soon.

What is next after The Merge?

There will be follow up announcements regarding the future stages of Ethereum network upgrade, Babb will be monitoring these developments closely. In case Ethereum splits into two different networks, a process known as a fork, the “ETH” wallet on Babb refers to the new Ethereum PoS chain. Babb will not support the forked tokens initially. If a fork happens, Babb will evaluate the conditions and update the community in a future announcement.

How does The Merge impact BAX?

BAX is a token running with an ERC20 contract on the Ethereum blockchain. Now The Merge is rolled out, BAX transactions have transitioned to the new Proof of Stake consensus. The Merge does not affect the funds of holders. All funds have transferred over with The Merge, and ether still appears as ETH in users’ wallets.

How does the Merge impact Babb users and products?

For BAX holders and Babb users, Babb products remains unaffected for the most part. There may be temporary pauses on Ethereum (ETH) and BAX(ERC20) deposits and withdrawals in case any issues related to the The Merge are detected.

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