Coinbase, one of the world’s largest cryptocurrency exchanges, will temporarily stop ETH transactions on the platform while the Merge update on the Ethereum blockchain is made.
According to a statement made by Coinbase today, also known as merger new on the exchange at the time of the update ether (ETH) deposit and withdrawal operations will be temporarily closed.
Coinbase customers will not be able to make new deposits/withdrawals with ERC-20 tokens during this period. Coinbase management is responsible for this decision against possible mishaps during the update. “for precautionary purposes” announced and made the following statement:
“Your assets will be safe throughout this process and you will not need to do anything.”
Ethereum developers have been in development for six years. Merger It expects the update to go live on September 15-16. However, the date of the update is not clear yet.
After switching to the proof-of-stake algorithm on the Ethereum blockchain via Coinbase staking users who make these balances but after the update is complete can access.