Chainlink says it will not support Ethereum PoW after integration

Chainlink will not support forked versions of the Ethereum blockchain in consideration of Proof of Work (PoW) forks after the integration, in line with the Ethereum Foundation’s decision.

Chainlink Moves to PoS with Ethereum Merge, Finishes PoW Fork

In a formal declaration, the Chainlink protocol has revealed that it will continue to offer services on the Ethereum blockchain after the Merge (the Merge has been delayed more than once). According to the Ethereum blockchain forecast, September of this year is when the merge is expected to take place, merging the network’s mainnet with the beacon chain.

This will move the entire activity of Ethereum to Proof of Stake (PoS). Since the middle of last year, we have seen many delays in the Merge project. If the program progresses along the timeline configured by the developers, Phase 1 will begin the evolution of the ecosystem’s transaction history and PoS network-based smart contracts.

Each evolution affects smart contracts running on the Ethereum blockchain, which hit the 1.45 million figure in the first quarter of 2022. Chainlink’s role in providing hybrid services related to smart contracts is also included in the project. Therefore, in the exclusive declaration, consumers are persuaded by Chainlink to prepare their smart contract functions according to new changes if they intend to avoid future accidents during and after PoS implementation.

The Ethereum Network Makes an Energy Efficient Transformation

The Merge counts as a prominent landmark throughout the cryptocurrency industry. There has been an ongoing discussion within the community about evolving networks towards PoS to provide solutions for additional decentralization, scalability, and sustainability. According to Ethereum’s official website, the energy consumption of the network will be greatly reduced by up to 99.5% after implementing PoS.

Previously, according to the official website, the cumulative energy consumption of Ethereum was comparable to that of the entire Netherlands. Nevertheless, critics of PoS suggest that it is less secure and more prone to security breaches than PoW. Networks such as Solana, Polkadot, Avalanche, and Cardano all use proof-of-stake blockchains today. publishes top quality content for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of businesses. You can be one too! All our clients appreciate our value/price ratio. If you have any questions, please contact us. info@tokenhell.comCryptocurrencies and digital tokens are highly volatile, so please do your own research before making any investment decision. Some of the posts on this website are guest or paid posts not written by the author (i.e. crypto cable , sponsored articles When press release The views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or other content posted on the Site. Please read full terms and conditions/disclaimer. Chainlink says it will not support Ethereum PoW after integration

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