OpenSea platform will support Ethereum merger

The press service of the OpenSea service announced that it will only support Ethereum’s Proof-of-Stake (PoS) chain after the network merger takes place.

Also, the project team assured that Polygon network is now integrated into the Seaport protocol.

Representatives of the most popular trading platform of non-mutually exchangeable tokens (NFT) assured that after the merger procedure Ethereum (Merge) would not support the old chain. Nevertheless, the decision has been made not to implement the integration now, while everything is happening in the test network. The startup team felt it was the right thing to do in order to ensure a smooth transition and not run into problems.

OpenSea representatives stressed: they are looking forward to the Ethereum network merger. This will allow the NFT sector to develop much faster, as one of the network’s main problems with giant commissions will be solved. In addition, the community has often criticized the cryptocurrency for the high level of energy consumption required to perform each transaction. Now that this figure will be reduced by 99.99%, it should attract new faces to the industry and contribute to a significant boost in the evolution of the NFT industry.

Earlier it was reported that a number of major companies in the crypto space announced that they would also support only the PoS version of the Ethereum chain. They included Circle, a USDC stabelcoin issuer, and Chainlink, a blockchain protocol oracle network.

In addition, large projects related to decentralized finance (DeFi) and NFT have also expressed a similar position. Among them were the Aave platform and the LooksRare service.

Irina Dudak

News correspondent of the cryptocurrency and blockchain market.
Back to top button