The Merge, Regenesis NFT, ETHW
The Ethereum Blockchain Merge is now inevitable, with its execution awaited to kick off sometime between Sept. 13-15. Preparations have been underway, with 73% of nodes ready for the Bellatrix merge on September 6 and the Mainnet merge on September 13-15, 2022. In addition, an Ethereum fork ($ETHW) has already been prepared and ready to launch on the Merge day. Consensys, the team behind Metamask wallet, has also prepared a huge NFt drop for everyone willing to participate.
Here is how you can bag both the NFT drop and the $ETHW airdrop.
To celebrate the Merge, a blockchain software technology company, ConsenSys, is dropping free NFTs on the Ethereum mainnet on the day of the Merge.
The NFT collection, dubbed Regenesis, pays tribute to the open community of developers, client teams and researchers for the seven years of dedication and innovation it took to make the Proof-of-Work to Proof-of-Stake transition possible. The NFT is free to mint on the Merge day at 9 am via a link posted on ConsenSys’ merge hub. The claiming window will remain open for 72 hours. Users can mint as many as they want via individual transactions. However, the only cost incurred will be the gas fee for every mint. On the other hand, those who belong to the Protocol Guild will receive an airdrop of the full NFT collection.
There is the likelihood that some anonymous developers will fork the Ethereum blockchain after the Merge. In turn, the step will keep a version of the network running on the current PoW consensus mechanism while the blockchain transitions to PoS. The main fork is ETH Proof of Work ($ETHW). Many are contemplating supporting the PoS chain, leaving the POW fork in a stale state. Everyone holding ETH on-chain will have the same balance of $ETHW on the forked ETHPoW chain.
The easiest way to play the Merge is by depositing ETH onto a centralized exchange that has announced it will support the PoW fork. Poloniex, Binance, MEXC Global, Gate.io and FTX seem the most certain to give users their equivalent ETHW after the Merge.
Users who cannot deposit into any of these exchanges may have the option of holding ETH in a non-custodial Ethereum wallet. This will uaranteeing they will receive ETHW on the new PoW fork.
A non-custodial wallet would be the quickest way to access ETHW after the Merge. A disadvantage for those on centralized exchanges is that they will have to wait hours or even days for their ETHW.
Control of your ETH funds is the surest way to guarantee access to PoW fork coins. To ensure you are prepared for the Merge, set up accounts on different exchanges that support ETHW in advance. However, double-check everything before sending transactions and be safe.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.
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