Written by Will Cleaver

On June 24, 2021

Proton Blockchain Update: Upcoming Ethereum Merge

Dear community,

 

The Ethereum network is due to undergo major changes in an upcoming ‘Ethereum merge’ event. Customer safety is our number one priority, and we would like to take the time to explain to you how this will affect the Proton Blockchain & WebAuth Wallet, and to reassure you that it will have no impact on the security of your assets. 

 

What is the Ethereum Merge?

The merge is an upgrade to the Ethereum Network that will allow the current consensus mechanism to move from Proof of Work (PoW) to Proof of Stake (PoS). More information about the merge can be found on the official Ethereum blog

 

When will the Ethereum Merge take place?

While there is no definitive time or date, the merge is expected to occur on or around September 15, 2022. 

 

How will the Ethereum Merge affect Proton Blockchain & WebAuth Wallet?

The most important thing to note is that your cryptocurrency will remain safe and secure, and there is no action required on your part. As a precaution and to protect all customers we, will be pausing withdrawals of LUNR, ETH, USDT, XPR, USDC, TUSD, PAXG, PAX, MTL, 1INCH, LINK, UNI.

 

This is a safety-first approach, to ensure that all systems are working smoothly before reactivating withdrawals.

 

We recommend not depositing any of the assets mentioned above during the merge, as they may take longer to complete. You will be able to continue to deposit and withdraw all other Proton Blockchain supported non-ERC-20 tokens. We do not anticipate any impact on trading on ProtonSwap.com, or for the merge to affect any other supported networks or cryptocurrencies not mentioned above.

 

Will Proton Blockchain support a new asset created from the merge?

If an ETH Proof-of-Work (ETHPoW) fork occurs, and the outcome of the merge creates a new digital asset, we will follow our existing and diligent review process to assess whether we can list the asset. If you would like to participate in any forks that may occur as part of the merge, please withdraw your ETH tokens before September 14th 2022. 

 

We are monitoring this event closely and will give updates if for any reason there is a change in the process mentioned above.

 

As always, we are here to help, and if you have any concerns or require support please reach out to support@protonchain.com

 

Other Proton articles:

Introducing Proton DEXember

Introducing Proton DEXember

It wouldn’t be right for us to finish the year without a traditional Proton Blockchain wordplay, and that’s why we’re seeing out 2022 with the launch of DEXember. #DEXember — Marshall Hayner (@MarshallHayner) November 24, 2022 The DEXember campaign is a month...

Black Friday – Reduced USDC Deposit Fees

Black Friday – Reduced USDC Deposit Fees

At Metallicus, we believe everyone should offer Black Friday deals, not just your favorite online shopping retailer. That is why we are delighted to announce that we have slashed the fees for the Proton Blockchain Fiat On-Ramp from today until December 31st, 2022....

The New Proton DEX | Decentralized & Compliant

The New Proton DEX | Decentralized & Compliant

Metallicus is delighted to announce the launch of the Proton Blockchain Decentralized Exchange (Proton DEX), a peer-to-peer marketplace that connects cryptocurrency buyers and sellers with each other while simultaneously ensuring that users remain in control of their...

Meet the Block Producers | EOSphere

Meet the Block Producers | EOSphere

Over the course of the next few months, we will be introducing you to the incredible Block Producers that power the Proton Blockchain. Discover their reasons for becoming Block Producers, how they discovered the world of Cryptocurrency and Blockchain, and the reasons...

Free Lifetime Trading with Proton DEX Keys.

Free Lifetime Trading with Proton DEX Keys.

The highly anticipated Proton Decentralized Exchange (Proton DEX) is almost here, supercharging the Proton Blockchain experience even further, bringing seamless and instant cryptocurrency exchange trading. Proton DEX will allow customers to trade their cryptocurrency...

Meet the Block Producers | Saltant

Meet the Block Producers | Saltant

Over the course of the next few months, we will be introducing you to the incredible Block Producers that power the Proton Blockchain. Discover their reasons for becoming Block Producers, how they discovered the world of Cryptocurrency and Blockchain, and the reasons...