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Title: Will old Cold storage MEW work since we merged? Post by: adaseb on September 24, 2022, 03:24:30 PM I got an old MEW on cold storage. Probably 2-3 years old. I rarely do any ETH transactions. I just use the MyEtherWallet Offline helper and made transactions like that. All my transactions are Legacy transactions.
Wondering if after the merge this will still work? Is it backwards compatible or will I have to update my MEW on cold storage? Title: Re: Will old Cold storage MEW work since we merged? Post by: vv181 on September 24, 2022, 04:17:32 PM The Merge does not change any underlying of how Ethereum transaction works, in the user senses. So, there is nothing to worry about, it will still work.
The concern you raise is also addressed on the Ethereum misconception website, the Ethereum team explain it thoroughly: Users and holders The Merge did not change anything for holders/users. This bears repeating: As a user or holder of ETH or any other digital asset on Ethereum, as well as non-node-operating stakers, you do not need to do anything with your funds or wallet to account for The Merge. ETH is just ETH. There is no such thing as "old ETH"/"new ETH" or "ETH1"/"ETH2" and wallets work exactly the same after The Merge as they did before—people telling you otherwise are likely scammers. Despite swapping out proof-of-work, the entire history of Ethereum since genesis remained intact and unaltered by the transition to proof-of-stake. Any funds held in your wallet before The Merge are still accessible after The Merge. No action is required to upgrade on your part Title: Re: Will old Cold storage MEW work since we merged? Post by: hugeblack on September 24, 2022, 07:49:28 PM AFAIK, Nothing has changed in Ethereum except to modify the mining method, which is not very suitable for beginners, so your coins are in cold storage safely and you only need to update the Neo application "if needed" or use the private key to transfer to other wallets.
For more read ---> https://www.reddit.com/r/CryptoCurrency/comments/x0pfrw/what_happens_to_the_eth_in_my_cold_wallet_after/ Title: Re: Will old Cold storage MEW work since we merged? Post by: adaseb on September 25, 2022, 01:52:12 AM AFAIK, Nothing has changed in Ethereum except to modify the mining method, which is not very suitable for beginners, so your coins are in cold storage safely and you only need to update the Neo application "if needed" or use the private key to transfer to other wallets. For more read ---> https://www.reddit.com/r/CryptoCurrency/comments/x0pfrw/what_happens_to_the_eth_in_my_cold_wallet_after/ What do you mean I need to update the “neo” application? I am using MEW. I tried reading the Reddit but it got off topic pretty quick. People started to talk about ETH POW and such and not answer the main question. Title: Re: Will old Cold storage MEW work since we merged? Post by: adaseb on September 29, 2022, 02:35:38 AM Just providing an update…
Basically it worked like before. Pretty much no changes. All had to do was put in correct nonce, gas, and gas limit. Fees seem much cheaper than before. Can’t remember sending a erc20 transaction for less than $1 in fees. Title: Re: Will old Cold storage MEW work since we merged? Post by: jrrsparkles on September 29, 2022, 03:32:30 PM Just providing an update… Its a great news for the token holders because they are paying insane fees for every token transaction for years and finally they can breathe and also erc projects will back into the action. But PoS is technically not secured as PoW and also the control power may concentrate on fewer hands which may become a negative side for the future of ETH.Basically it worked like before. Pretty much no changes. All had to do was put in correct nonce, gas, and gas limit. Fees seem much cheaper than before. Can’t remember sending a erc20 transaction for less than $1 in fees. Title: Re: Will old Cold storage MEW work since we merged? Post by: Bitcoin_Arena on September 29, 2022, 11:59:26 PM Just providing an update… Yeah, fees are not so low, just like the pre-2017 bull run times. I personally stopped making transactions on ETH network a couple of years back, but I think I will start using the network again soon. Basically it worked like before. Pretty much no changes. All had to do was put in correct nonce, gas, and gas limit. Fees seem much cheaper than before. Can’t remember sending a erc20 transaction for less than $1 in fees. Meanwhile, exchanges like Binance are still charging fees above $1 for Ethereum so that they can promote their shitty chains (BSC and BNB Beacon chain) ::) Title: Re: Will old Cold storage MEW work since we merged? Post by: Tony116 on September 30, 2022, 01:13:48 AM Just providing an update… Basically it worked like before. Pretty much no changes. All had to do was put in correct nonce, gas, and gas limit. Fees seem much cheaper than before. Can’t remember sending a erc20 transaction for less than $1 in fees. I have also seen many people comment that ethereum gas fees have dropped significantly, although still not the cheapest. Although the developers also mentioned earlier that the merger will not reduce gas fees and we will have to wait for the sharding update in 2023 when gas fees are at their lowest. It is not clear if the reduction in gas fees is due to a merger or a bear market that causes transactions to decrease, so transaction fees will also decrease. But this is good news for ETH and will be bad news for ETH competitors. Title: Re: Will old Cold storage MEW work since we merged? Post by: Bitcoin_Arena on September 30, 2022, 11:02:40 PM I used to use MEW wallet a long time ago. But since it only supports ETH Network, it was necessary to use different wallets for other chains, so to continue using multiple support wallets in once software, now I use Trust wallet's multi support wallet. So now I don't know much about MEW Wallet. And because of this I don’t have any computable ans of your question Don't let the name mislead you (My EtherWallet). As time went by, they also had to adapt and start supporting other blockchainsThe Android version of MEW can do that They also have a browser extension that supports other chains known as enkrypt (https://www.enkrypt.com) Title: Re: Will old Cold storage MEW work since we merged? Post by: smartaction on October 01, 2022, 03:15:46 AM I used to use MEW wallet a long time ago. But since it only supports ETH Network, it was necessary to use different wallets for other chains, so to continue using multiple support wallets in once software, now I use Trust wallet's multi support wallet. So now I don't know much about MEW Wallet. And because of this I don’t have any computable ans of your question Don't let the name mislead you (My EtherWallet). As time went by, they also had to adapt and start supporting other blockchainsThe Android version of MEW can do that They also have a browser extension that supports other chains known as enkrypt (https://www.enkrypt.com) |