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Usha Yadav
Sep 1, 2022
by Usha Yadav

OpenSea Confirms to 'Solely Supporting' Ethereum PoS After Merge

OpenSea

Table of contents

  1. Ethereum Proof-of-Stake (PoS)
  2. OpenSea Now Makes Use of Polygon
OpenSea has declared that it would only support Ethereum's Proof-of-Stake version once the Merge takes place. The leading non-fungible tokens (NFTs) marketplace also disclosed that the Seaport protocol now supports Polygon. OpenSea stated in a string of tweets sent late on August 31 that "first, and most critically, we are committed to only supporting NFTs on the updated PoS [Proof-of-Stake] chain."

Circle and Chainlink are two companies in the cryptocurrency industry that have stated they will exclusively support the PoS version of Ethereum. According to the earlier statement, there can only be one "edition" of USDC that is a legal asset on Ethereum.

Ethereum Proof-of-Stake (PoS)

This month, as part of The Merge, which marks the culmination of Ethereum's switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS), the so-called Beacon Chain and its validators will take over as the core of the blockchain network. Numerous crypto businesses will be impacted and have worked hard to prepare for the change. One of the most eagerly awaited network updates is the Ethereum Merge, predicted to occur between September 10 and 20. Crypto fans are optimistic that the final Merge will go through without a hitch because it has previously undergone numerous successful testnets.

Aave and LooksRare are two Web3 systems getting ready for the Merge. Both have temporarily altered their behaviors in light of the situation. After the blockchain's Merge to a less energy-intensive system, cryptocurrency exchange firm Coinbase recently stated that it is open to listing tokens connected with an Ethereum PoW fork. The ETH PoW planned fork seeks to break away from the Ethereum dominant network and continue mining.

OpenSea Now Makes Use of Polygon

On its open-source, Web3 marketplace protocol Seaport, OpenSea also declared support for Polygon. Additionally, they disclosed that it would support Klaytn and other EVM-compatible chains in the upcoming months.

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proof of stake PoS PoW Polygon OpenSea Ethereum Merge Seaport
OpenSea Confirms to 'Solely Supporting' Ethereum PoS After Merge
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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