{"id":32892,"date":"2022-08-08T06:51:37","date_gmt":"2022-08-08T10:51:37","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=32892"},"modified":"2022-08-08T06:52:19","modified_gmt":"2022-08-08T10:52:19","slug":"chainlink-switches-from-ethereum-pow-forks-to-pos","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/chainlink-switches-from-ethereum-pow-forks-to-pos\/","title":{"rendered":"Chainlink switches from Ethereum PoW forks to PoS"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-after-the-merge-the-chainlink-link-protocol-will-no-longer-support-forked-versions-of-the-ethereum-eth-blockchain-including-proof-of-work-pow-forks-but-will-switch-to-the-proof-of-stake-pos-versions\">After the Merge, the Chainlink (LINK) protocol will no longer support forked versions of the <a href=\"https:\/\/coinscreed.com\/staging\/how-to-trade-ethereum-for-cardano-on-coinbase-pro.html\" target=\"_blank\" rel=\"noreferrer noopener\">Ethereum <\/a>(ETH) blockchain, including Proof of Work (PoW) forks but will switch to the Proof of Stake (PoS) versions.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-23.png\" alt=\"Chainlink switches from Ethereum PoW forks to PoS \" class=\"wp-image-32894\" width=\"717\" height=\"329\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-23.png 577w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-23-300x138.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-23-150x69.png 150w\" sizes=\"(max-width: 717px) 100vw, 717px\" \/><figcaption>Chainlink switches from Ethereum PoW forks to PoS <\/figcaption><\/figure>\n\n\n\n<p>The Chainlink protocol has announced that its services would continue to operate on the Ethereum blockchain following the eagerly anticipated Merge. The Beacon Chain and Ethereum mainnet will be merged during the Merge in September 2022, according to the Ethereum blockchain.<\/p>\n\n\n\n<p>All Ethereum activities will switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS). <a href=\"https:\/\/www.google.com\/search?q=Chainlink+switches+from+Ethereum+PoW+forks+to+PoS&source=lmns&bih=625&biw=1366&rlz=1C1SQJL_enNG889NG889&hl=en&sa=X&ved=2ahUKEwiv0duEh7f5AhUO9BoKHQokAuAQ_AUoAHoECAEQAA\" target=\"_blank\" rel=\"noreferrer noopener\">The Merge<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> has previously been postponed from mid-2021 to September 2022. Phase 1 will begin migrating the ecosystem's transaction history and smart contracts to the PoS network if things proceed according to the developers' schedule.<\/p>\n\n\n\n<p>This change will all impact the 1.45 million smart contracts on the Ethereum blockchain as of Q1 2022. The provision of hybrid smart contract services by Chainlink is not an exception.<\/p>\n\n\n\n<p>In order to prevent further problems before and after the introduction of <a href=\"https:\/\/coinscreed.com\/staging\/ropsten-proof-of-stake-beacon-chain-successfully-goes-live.html\">PoS<\/a>, Chainlink recommended its customers arrange their smart contract activities appropriately in its most recent notification.<\/p>\n\n\n\n<p>A significant turning point in the cryptocurrency market was the Ethereum Merge. The community has focused heavily on the switch from PoW to PoS as a means of achieving sustainability, scalability, and improved decentralization.<\/p>\n\n\n\n<p>The network would use 99.5 percent less energy after it switches to PoS, according to the Ethereum website. Previously, according to the official website, Ethereum's total energy consumption was compared to that of the whole nation of the Netherlands.<\/p>\n\n\n\n<p>PoS is less secure, according to detractors of such a protocol swap, making security breaches more likely. Presently, the majority of significant networks, including Cardano, <a href=\"https:\/\/coinscreed.com\/staging\/avalanche-withdraws-from-three-arrows-capital-amid-liquidation-concerns.html\" target=\"_blank\" rel=\"noreferrer noopener\">Avalanche<\/a>, Polkadot, and Solana, use proof of stake blockchains.<\/p>\n\n\n\n<p>The ecosystem's native cryptocurrency, Ether, is experiencing price increases of up to 50% against Bitcoin (BTC) as The Merge draws near.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After the Merge, the Chainlink (LINK) protocol will no longer support forked versions of the Ethereum (ETH) blockchain, including Proof of Work (PoW) forks but will switch to the Proof of Stake (PoS) versions. The Chainlink protocol has announced that its services would continue to operate on the Ethereum blockchain following the eagerly anticipated Merge. [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":32894,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[852,128,11044,9728],"class_list":["post-32892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-chainlink","tag-ethereum","tag-pos-2","tag-the-merge-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-23.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=32892"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32892\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/32894"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=32892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=32892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=32892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}