The Japanese cryptocurrency exchange BitBank has stated that it has not yet decided whether to list Ethereum PoW. (ETHW). In order to decide whether or not to list the token, it must first evaluate any potential regulatory issues.
In anticipation of the impending merging update, disobedient cryptocurrency miners developed a proof-of-work Ethereum substitute earlier this August. In the beginning, the ETHW token was able to achieve some traction, with Poloniex being one of the first exchanges to handle it. Additionally, BitMEX introduced a futures contract for the token’s proof-of-work iteration.
The full switchover of Ethereum to proof-of-stake will take place at the merging event, which is planned for mid-September. Ethereum miners will be left behind and suffer a severe financial loss. Stakeholders will be in charge of securing the network after the integration.
The PoW-supporting coin attracted a lot of interest in the beginning of August, but its value has fallen significantly as the merge event approaches. Data from CoinMarketCap shows that it is currently trading at $50.56.
It is important to remember that the ETHW token has not yet been released. In the main event, its supporters intend to successfully branch the main chain. To take advantage of the excitement, several exchanges have chosen to list the coin in advance. Chandler Guo, an Ethereum miner who is leading the charge to
Chandler Guo, an Ethereum miner who is leading the initiative to fork the Ethereum chain, tweeted earlier this August that ETHW was “coming soon.”
Given that Ethereum co-founder Vitalik Buterin has already approved Ethereum Classic, calling it a “really nice chain,” the new fork may have a difficult time attracting enough adherents.