Chainlink (LINK) Will Not Support Forked Versions of Ethereum (ETH) After the Merge

The Chainlink (LINK) protocol does not plan to support any forked versions of Ethereum (ETH) after it merges to Ethereum 2.0.

Chainlink, a decentralized oracle network, notes on its website that this decision includes proof-of-work forks.

“This is aligned with both the Ethereum Foundation’s and broader Ethereum community’s decision, achieved via social consensus, to upgrade the Ethereum blockchain to [proof-of-stake] consensus.”

Ethereum is currently scheduled to merge to its new proof-of-stake system on September 19th.

The Merge, which will give rise to Ethereum 2.0, looks to solve the network’s scalability issues by setting the stage for future upgrades, including sharding.

According to Ethereum co-founder Vitalik Buterin, the smart contract platform will eventually be capable of facilitating 100,000 transactions per second via second-layer solutions following the completion of the upgrade.

More than 13.23 million ETH worth nearly $22.7 billion has been staked into the ETH 2.0 deposit contract at time of writing, according to the Ethereum search engine Etherscan.

The Chainlink protocol plans to remain operational on the Ethereum blockchain during and after the upgrade.

LINK is trading at $8.46 at time of writing. The 25th-ranked crypto asset by market cap is down nearly 4% in the past 24 hours.

ETH is trading at $1,680 at time of writing. The 2nd-ranked crypto asset by market cap is down more than 5.6% in the past 24 hours.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Elena11/David Sandron

Leave a Reply

Your email address will not be published.