Learn about Binance’s position on the controversy surrounding the upcoming Ethereum fork and the possibility of supporting ETHPoW?
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Answer Learn about Binance’s position on the controversy surrounding the upcoming Ethereum fork and the possibility of supporting ETHPoW?
Binance, which operates the largest cryptocurrency exchange by trading volume, has told ETHPoW that it will not rule out support for the upcoming controversial Ethereum fork.
Binance has announced that it will support a “merge” upgrade that will carry over the conversion of Ethereum from a mining mechanism to a pooling mechanism.
But Binance also added that it may support the anti-consolidation team that plans to continue using the Proof of Work (mining) mechanism and create its own split network and cryptocurrency.
A Wednesday statement from Binance said that in the event of new forked tokens, Binance will evaluate support for the distribution and support of forked tokens.
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Binance added:
In order to protect Binance users, all crypto tokens will undergo the same rigorous listing review process as Binance does for any other cryptocurrency or token.
In September, the Ethereum network will be upgraded to Ethereum 2.0.
Therefore, in September, the date of the end of Ethereum based on the Proof of Work mechanism, and this will undoubtedly have a negative impact on miners who rely on mining rewards as a source of income.
Ethereum miners are not left idly by, as some of them plan to support the Ethereum split and keep the Ethereum miner and its cryptocurrency ETHW.
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There are other cryptocurrency exchanges that have already announced that they will support fork and ETHW trading from these exchanges:
Poloniex, Huobi and BitMEX.
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