The Ethereum Merge upgrade is scheduled for Thursday, September 15, 2022. The network is expected to reach the Total Difficulty threshold called the Terminal Total Difficulty (TTD) on this day. This value represents the total number of hashes left to mine until the network moves to Proof-of-Stake entirely.
The Ethereum Merge may create two scenarios:
- A hard fork event will occur when some miners continue using the Proof-of-Work network or launch a new network that operates on PoW. In such a case, a new token will be created. The original ETH network will transform into the ETH PoS network.
- A hard fork doesn’t occur, and the ETH network develops without splitting.
To ensure your funds are safe and transactions are performed smoothly, LetsExchange will disable the ETH network on 14.09. No transactions in the network (ETH, ERC-20) will be possible.
As soon as we make sure that the transition has happened without major issues and the network functionality is available to ensure smooth swaps, we will resume providing exchange services in the ETH network.
We plan to continue the ETH network-based operations on 16.09.
Note that LetsExchange will only support Ethereum's PoS (original ETH) chain.