Home Ethereum Binance Supports Ethereum PoS Merger, Evaluates New Forked Tokens

Binance Supports Ethereum PoS Merger, Evaluates New Forked Tokens

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Binance Supports Ethereum PoS Merger, Evaluates New Forked Tokens

Binance to support Ethereum ‘merger’, expected in September, and assess whether it lists new forked tokens, world’s largest cryptocurrency exchange by trading volume said wednesday.

See related article: USDC and Tether Announce Support for Ethereum Proof of Stake

Fast facts

  • Binance said it is closely monitoring the development of the merger, which could potentially result in new forked tokens.
  • “In the event of new forked tokens, Binance will assess support for distribution and withdrawal of forked tokens,” the crypto exchange added.
  • “Fusion” is intended to displace the Ethereum blockchain from its current proof of work (PoW) one-to-one consensus mechanism proof of stake (PoS), which is considered more secure, less energy-consuming and better for implementing scaling solutions. The change should happen on September 19.
  • Such a merger, which may impact network mining operations built on the PoW model, has prompted some miners suggest forking Ethereum to keep a PoW version of the blockchain.
  • The issuers of Tether and USDC, two of the largest stablecoins, said earlier this week that they will support Ethereum’s next PoS chain.

See related article: Prominent Chinese ETH Miner Plans Proof-of-Work Fork Amid The Merge

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