Are you an user of Huobi Global? Here is everything you need to know about the ETH (Ethereum) Merge.
ETH (Ethereum) Merge Upgrade Support Guide
According to the announcement of the ETH (Ethereum) Foundation, the upgrade will be implemented in the near future, and after the upgrade is completed, the ETH (Ethereum) consensus algorithm will switch from Proof of Work (PoW) to Proof of Stake (PoS).
The first phase will be the Bellatrix consensus layer update at 144,896, which is expected to be 20:34:47 (GMT+9) on September 6, 2022 .
The second stage is the Paris upgrade, when the TTD (Terminal Total Difficulty) of the Ethereum PoW (PoW) chain reaches 587500000000000000000, the estimated block height is 15,540,293, and the estimated time is 15 September 2022 09:30 (GMT+9) no see.
Huobi will support Ethereum Merge upgrade.
Accordingly, deposits and withdrawals will be suspended at the time of upgrading the Bellatrix consensus layer on the 6th and the Paris upgrade on the 15th to reduce the transaction risk due to price volatility during the hard fork and to safely protect customer assets.
Temporary suspension of deposits and withdrawals
Suspension Date: From September 6, 2022 20:00 (GMT+9) until further notice
Suspension of deposits and withdrawals: ETH and other ERC20 series tokens
*Hard forks may accompany relatively strong price fluctuations, so please be careful when trading.
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Expected scenario after hard fork
After the ETH (Ethereum) hard fork, the following two situations may occur.
1. If no new coins are created after the hard fork
Huobi will resume deposits and withdrawals after confirming the stability and security of the ETH main network, and the specific schedule will be announced separately.
2. When a new coin is created after the hard fork
The “ETH” ticker remains unchanged in the ETH PoS (Proof of Stake) chain. Huobi will take a snapshot of ETH holdings before the Paris upgrade, and will then pay out new coins at a ratio of [1:1].
A separate announcement will be made after payment is complete.
Go to Huobi’s Official Website
Please check Huobi official website or contact the customer support with regard to the latest information and more accurate details.
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April 24, 2024
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