What is the Merge and how will this process affect Alice-Bob?
Regarding this update, we are talking about merging the main layer of Ethereum with Beacon Chain - a separate blockchain that coordinates staking. As a result of this update, the main Ethereum network will abandon the PoW algorithm and switch to a less energy-intensive, eco-friendly and fast PoS model.
This update will not affect Alice-Bob Bot users in any way, because all Ethereum assets will be transferred to the new network with the same ETH ticker. If the network is not split into two separate ones, no new coin will be created. If an Ethereum fork occurs, the ETH ticker will belong to the main network running on PoS. Beware of individuals offering to buy ETH2 coins or transfer funds to complete the upgrade.
When is the update scheduled
The first update is scheduled for 11:30 UTC on September 6, 2022. During the updates, we will block access to deposits, exchanges, and withdrawals of ETH and all ERC20 tokens.