Hey Bitsians!

We will support the Ethereum (ETH) network upgrade (Gray Glacier Upgrade) that is scheduled to take place at the Ethereum block height of 15,050,000 or approximately Wednesday the 29th of June'22 at 1540hrs.

As a user you need to take note of the following:

- The trading of ETH and ERC-20 tokens would not be affected.
- To prepare for the upgrade we would temporarily pause deposits and withdrawals starting from Tuesday the 28th of June'22 at 2200hrs.
- The PocketBits team would handle all the technicalities involved on behalf of our users.
- Deposits and withdrawals for ETH & ERC-20 tokens would resume once the upgraded network stabilizes.

What is Gray Glacier?

The Gray Glacier network upgrade changes the parameters of the Ice Age/Difficulty Bomb, pushing it back by 700,000 blocks, or roughly 100 days. The Difficulty Bomb is to disincentivize miners to stop mining on the current network, Ethereum 1.0, after a successful transition to Ethereum 2.0.

Read More

For the Official Announcement by the Ethereum Foundation Click Here

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Disclaimer: Cryptoassets are not a legal tender. Kindly ensure that you undertake sufficient risk assessment and do your own research when trading in crypto markets as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice. PocketBits reserves the right to amend or change this blog post at any time and for any reasons without prior notice.