Binance resumed Ethereum withdrawal

Bitcoin exchange Binance resumed deposits and withdrawals in Ethereum and ERC-20 tokens after blockchain migration to Proof-of-Stake (PoS) consensus algorithm.

The platform suspended asset transactions on Sept. 6 before the Bellatrix “consensus level” (Beacon Chain) update and on Sept. 15 in the run-up to The Merge.

Binance noted that the merger in Ethereum has been successfully completed.

The exchange team reminded that it will distribute the blockchain’s PoW token to users after its launch. ETH holders will receive ETHW coins at a 1:1 ratio based on the snapshot at the time of The Merge.

“This process typically takes two to five days,” the company said.

ETHW may be included in the platform’s listing after the verification applied by Binance to all assets. Supporting the allocation of the token does not guarantee the launch of trading in it, the exchange team stressed.

The developers of the fork project announced the launch of the mainnet and published the network’s main identifiers.

As of this writing, users are complaining about connectivity issues. Blockchain observer not working.

In early August, the Poloniex exchange announced support for potential PoW forks of Ethereum. The company announced today that it has chosen the EthereumFair (ETF) chain from the ClassZZ platform, rather than the ETHW project promoted by Chandler Go, as its primary blockchain alternative on PoS.

According to the statement, this fork launched almost immediately after The Merge. According to the explorer, there have been over 350 transactions on the network.

ClassZZ (CZZ) token has https://gagarin.news/ gained almost 36% in the last 24 hours.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, rates and analytics.