Publicly listed company Coinbase International has announced corporate plans to measure the forks arising from the upcoming Ethereum update called The Merge. In a recently updated journal post, Coinbase said that if a new Ethereum proof-of-work (PoW) token is created, it will be “reviewed with the same strength as another one listed” on the company’s exchange.
Coinbase updates the general public regarding the possibility of a post-merger fork of Ethereum
The merger has been returning for a long time and knowledge shows that it is approximately sixteen days removed from now. Essentially, the merger is a commitment to move from the Proof-of-Work (PoW) consensus algorithm program to a new Proof-of-Stake (PoS) consensus theme. Currently, although a POW network type like ETH already exists in Ethereum Classic (ETC), there is talk of creating a new POW fork after the merger.
The proposed ETH POW fork has gained market interest as various crypto exchanges have created versions of the token called ETHW. At the time of this writing, ETHW is trading at $49 per unit and is up to five-hits in the last 24 hours. Last week on August 25th, Coinbase international (Nasdaq: COIN ) updated a journal post originally published on August sixteenth. The new update takes into account the possibility of an ETH POW fork arising from the merger.
The magazine’s post explained its intentions, however, as Coinbase plans to pause any Ethereum or ERC20-based transactions between integrations. A recent update reads: “In the event of an ETH POW fork following the merger, this asset will be valued at the same strength as any other asset listed on our exchange. Coinbase tweeted about the update on Twitter the same day.
“At Coinbase, our goal is to list every cryptocurrency that is legitimate and safe to list,” the exchange tweeted. “Following the merger, we will be able to review any ETH fork tokens on an item-by-item basis in accordance with our standard merger listing guidelines. Rest assured, all potential Ethereum fork tokens will undergo the same rigorous listing review process as POW forks, which are listed on our exchange,” Coinbase added. .
It has been documented that exchanges can take as long as they want to fork assets and that a few mercantile platforms do not support certain crypto forks. Coinbase has created similar options throughout the Ethereum Classic and Bitcoin Cash forks. In addition, the best credit to ensure that the assets registered by the oldest crypto participants practice fork without guardianship during the holding is that they will get fork plus, if the blockchain cracks.
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