Search Inside Bitcoins

Chainlink Will Not Support Ethereum Forks Versions of the Blockchain

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.


Join Our Telegram channel to stay up to date on breaking news coverage

According to the company’s latest statement, Chainlink won’t be supporting Ethereum Forks Versions and will continue to operate on the Ethereum (ETH) network both before and after the much-anticipated adoption of the proof-of-stake (PoS) consensus layer.

Meanwhile, Chainlink stated that the protocol would not permit forked versions of the Ethereum blockchain, including proof-of-work (PoW) forks. Chainlink supports the Ethereum Foundation’s and the Ethereum community’s decisions.

As a result of the merge, the Chainlink protocol will no longer permit split versions of the Ethereum blockchain, including proof-of-work (PoW) forks.

Buy Cryptocurrencies

Your capital is at risk.

According to the network’s statement:

The Chainlink protocol and its services will remain operational on the Ethereum blockchain during and after the Merge to the PoS consensus layer. Users should be aware that forked versions of the Ethereum blockchain, including PoW forks, will not be supported by the Chainlink protocol. This is aligned with both the Ethereum Foundation’s and the broader Ethereum community’s decision, achieved via social consensus, to upgrade the Ethereum blockchain to PoS consensus.

Hard Fork Speculation

Chainlink is a key player in Ethereum’s smart contract network, with a significant presence in the Defi, Enterprise, NFT & Gaming, and NFT & Gaming sectors. The network is widely expected to split into ETHPOW, ETH2.0, and/or ETHS before the Merge.

Scammers say blockchain security experts could take advantage of Ethereum’s transition’s ambiguous circumstances. That’s likely by claiming that ETH holders would receive the airdrop.

As a result, developers and decentralized applications (dApps) on Chainlink’s network understand that in the event of a network split, it will not support any forked version of Ethereum.

Adoption of Chainlink Driving

According to a February Bank of America research report, Chainlink, with more than $60 billion in total value locked in smart contracts, will be the key driver of widespread blockchain adoption across gaming, gambling, and insurance industries.

According to a Chainlink statement, a live price stream for BTC, ETH, and USDC will be available on Solana beginning in June. The following month, Bybit announced the incorporation of Chainlink’s live price feeds for 35 currencies to improve price accuracy for its spot trading services.

dApp Developers to Halt Smart Contract Operations

Chainlink also advised decentralized application (dApp) developers to postpone implementing smart contracts until they were certain they wanted to switch to Ethereum’s new PoS consensus method. According to the network, this will help “protect end users.”

Read more:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next