Update: “The Merge” network upgrade by Ethereum and what it means
August 31, 2022
We’d like to give you an important update.
Ethereum is upgrading their protocol. It’s called “The Merge” and tentatively will take place on 10-20 September 2022*. (to read more: link)
What happens next?
- Just to be safe,withdrawals of ETH and other ERC-20 tokens will be paused on our exchange during the following tentative times:
- 6 September 2022 at 18:00 GMT+7 (or 11:00 UTC) until the Bellatrix consensus layer upgrade is complete.
- 15 September 2022 at 7:00 GMT+7 (or 00:00 UTC) until “The Merge” upgrade is complete
- Your wallet balances of ETH and other ERC-20 tokens will not be affected. No action is required from you during the “The Merge” upgrade.
We’ll follow all announcements by Ethereum closely and let you know when the network has rebooted and the re-enablement of the withdrawal feature for ETH and other ERC-20 tokens in Zipmex. Follow our social channels to stay up to date.
Why The Merge matters
- Ethereum’s consensus layer protocol will transition from proof of work (PoW) to proof of stake (PoS) (to read more: link)
- The Merge will reduce Ethereum’s energy consumption by roughly 99.95%. This will give it a huge advantage over other blockchains.
- The Merge sets the foundation for future scaling solutions which will make the Ethereum network faster and more efficient.
*Ethereum’s Merge has been scheduled for TTD 58,750,000,000,000,000,000,000. This TTD is approximately scheduled to be reached during 10-20 September 2022.
TTD (Terminal Total Difficulty) is the total difficulty required of the final block mined in Ethereum’s Proof-of-Work (PoW) mechanism.
Note: Zipmex Indonesia is currently pausing the Deposit and Trade features in our exchange.
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*Investing in digital assets carries a high level of risk, including the risk of losing all of the invested amount. Investors should refer to the offering information prior to investing as well as invest appropriately with acceptable risk levels. For more information visit https://zipmex.com/id/en/