The date for the Ethereum upgrade is near, and gradually the events seem to be coming to reality with ongoing preparations from different ends. The September scheduled consensus protocol will be happening a few days from now.
The project kicked off in August with the Goerli merge upgrade on the blockchain network. The merge will make the network more scalable, usable, and affordable for Ethereum users. ETH blockchain is the first network attempting the POW to POS transition.
Prior to the network upgrade and transition to ETH 2.0, the leading NFT market platform, Open Sea, revealed its plan after the upgrade. The market platform revealed that it would rescind all support for tokens on the POW stake after the merge.
“NFTs ON ETH POW Stake Won’t Be Considered” – OpenSea
Open Sea revealed that after the successful network transition upgrade on the ETH blockchain, all tokens on the POW stake would not be supported. The latest update was made known via the platform’s official website.
According to the report, the marketplace would only allow non-fungible tokens on the upgraded POS stake on its platform. Other NFTs operating under the Ethereum Proof-of-work (POW) blockchain stake will be removed.
“NFTs on the Ethereum Pow stake won’t be supported neither exist on Open Sea.”
Also, Open Sea declared its support for the upcoming Ethereum blockchain proof-of-stake transition on its platform. The marketplace also announced that there are also upgrades and moves to allow a free transition to the Pos consensus protocol.
According to the post, transactions and other activities are monitored to ensure an easy transition. The platform is also prepared for unforeseen hitches or bugs during the transition.
OpenSea Boards Polygon To Its Newly Launched Sea Protocol
Following the preparation for the ETH 2.0 blockchain transition and upgrade, Open Sea has also been making moves to develop its platform. A few days ago, a sea protocol was launched on the Open Sea to enhance efficiency and interoperability in the marketplace.
Following the ETH 2.0 announcement, Open Sea also announced to power, Polygon with the new onboarded sea protocol. Excerpt from the announcement “After months of monitoring, researching and consultations, we are delighted to announce the onboarding of Polygon on Sea protocol.”
Open Sea also stated that other protocols would be onboarded for several blockchains on the platform. The protocol switch on Open Sea has so many advantages, some of which include few registrations in the marketplace.
Initialization charges have been removed, and the protocol will operate on a different mechanism than the common P2P. The ‘offer and consideration’ medium will facilitate the sale of virtual currencies such as ETH, NFTs, ERC-1151, and 721.