Coinbase, a cryptocurrency exchange, has updated its information regarding Ethereum’s transition to proof-ofstake in order to allow forks.
Coinbase posted a Thursday update on an Aug. 16 blog posting. It stated that it will evaluate any possible forks in Ethereum’s blockchain. Coinbase previously stated it intended to “briefly suspend” Ether (ETH), ERC-20 token deposits, and withdrawals during Merge. This is expected to take place between Sept. 10 to 20.
Coinbase stated that if an ETH PoW Fork should arise after The Merge, the asset would be reviewed with equal rigor to any other asset listed on our exchange.
You can be assured that all possible forked tokens of Ethereum (including PoW forks) will undergo the same rigorous listing review process as any other asset on our exchange.
— August 25, 2022, Coinbase Assets (@CoinbaseAssets).
Exchanges and crypto-firms that deal in ETH have made announcements to inform clients about any preparations required ahead of the Merge, from proof-of work, or PoW to proof-ofstake, or POS. Many believe that the blockchain will see a drop in energy consumption, scaleability and vulnerability to attacks decrease, and that the network will become more resilient.
It is not clear how crypto users will react to a forked PoW token that has been listed on Coinbase, or any other crypto exchange. The platfor has launched the ERC-20 token, which will allow customers to stake ETH and earn rewards, cbETH.
Similar: Merge: Up to $1M in Bug Bounty for Ethereum Network — Quadruples of the bug bounty
Binance said that it would support new tokens created in a hard fork, but wouldn’t guarantee listings without a review. BitMEX also made similar announcements on Aug. 8. They stated that the offering was highly speculative and might never be realized.
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