Estimated to occur between 10-20 September 2022, Ethereum will undergo what is called a Mainnet Merge, which you can read more about on Ethereum's official website at ethereum.org
or their blog at blog.ethereum.org
for an in depth explanation.
When a Hardfork
happens, it results in two chains existing instead of the previous single chain. In this case Ethereum PoW would be the old chain, and Ethereum PoS would be the new chain, resulting in two different currencies as there can only be one main chain for each crypto currency.
You might be wondering what's the reason for something like this happening in the first place. Why doesn't everyone just keep using the new chain? The reason in this case has to do with the Ethereum miners that won't be able to mine blocks anymore as PoS
works differently than PoW
and doesn't require blocks to be mined anymore. Instead of them throwing away their hardware, they will most likely choose to continue with the old chain.
Double Your Ethereum balance
Each person that owns ETH before the Merge, will have that amount on both chains after the harfork. This means that you will have 2 balances and we will support both chains
, at least in the sense that everyone will be able to withdraw their PoW balance.
This is a great solution actually if you have ETH that's not on Bitsler and don't want to miss out on claiming the PoW ETH, easily and hassle free. A potential issue might be that your wallet or exchange won't have this functionality or support the PoW chain in which case it will be extremely hard to claim it without the technical know-how.
How the maintenance will effect you
If you have ETH and you decide to keep it on Bitsler, then there is very little you have to do actually, as we'll do all the heavy lifting, and try to make this transition as smooth as possible for you and everyone else.
Nearing the Merge we will take note of your balance and shortly afterwards credit your PoW ETH coins alongside your PoS coins. Once the chains are stable enough, you will be able to withdraw your PoW coins.
If we determine that the PoW chain is secure and safe enough, we might consider enabling the option for deposits and playing any of our Casino
, or Esports