Poloniex will support potential Ethereum forces on the Pow algorithm
The Poloniex cryptocurrency exchange will support the potential Fork Ethereum at the Proof-OF-Work (POW) algorithm after the mirre of the main network with the Beacon Chain, which is scheduled for September 2022.
📢 The Ethereum Merge Is Expicted to Be in September 2022. Poloniex was the world’s first Exchange to List #eth and now the first to support potential for -libing of two potential forked etcs: #eths & #Ethw.https: // t.CO/QIPYETT5RQ
– Poloniex Exchange (@poloniex) August 4, 2022
“Poloniex was the first exchange to add Ethereum, and now it has become the first to support the alleged branching of the network with the listing of two potential forkenes-ETHS and ETHW,” the statement said.
According to the press release, on August 8, the platform will launch the ETH interface for ETHS/ETHW exchange. Potential FORKENS https://gagarin.news/news/the-tornado-cash-mixer-will-block-addresses-that-are-under-sanctions/ (Potential FORRED TOKENS) will also be allowed to exchange a pair among themselves. The proposal will be valid until the activation of update on the main network Ethereum.
Deposit and removal of funds in ETHS and ETHW will not be available. De facto, tokens are digital options for native assets of one of the chains.
The company emphasized that over time “adapting an offer to the latest market trends”. Representatives of the exchange also noted that it is still unknown what the hard fork will look in the Ethereum network.
At the end of July, the Chinese miner and supporter of Ethereum Classic Chandler Go said that he was gaining a group of developers to support Ethereum for Pow after The Merge. The latter involves the transition of the network to the consensus algorithm Proof-OF-Stake.
The community is quite highly assessed by the probability of an fork after an upgrade of the Ethereum network. According to the Galois Capital Head Fund, a third of the respondents believes that the ETH1 blockchain will appear on the basis of the Pow.
Question 1: What Happens During the Merge? IF Choice 2 OR 3 Go to Questions 2-5.
– Galois Capital (@galois_capital) July 27, 2022
The founder of Tron and the owner of Poloniex Justin San said that there are more than 1 million ETH on the balance sheet of the exchange. If Fork passes successfully, it will transfer some of the tokens based on the POW “ETHW community and developers to create an Ethereum ecosystem”.
According to San, the POW mechanism is a “key factor in the Ethereum ecosystem”, therefore Poloniex and it is personally ready to support the community.
Recall that until August 12, Ethereum developers will transfer the goerli twinet to the POS algorithm.
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