Bitcoin exchange Binance has resumed deposits and withdrawals in Ethereum and ERC-20 tokens following a blockchain migration to the Proof-of-Stake (PoS) consensus algorithm.
The Ethereum Merge was completed when the Terminal Total Difficulty (TTD) of 58750000000000000000000 today at 06:42:42 UTC.
Deposits and withdrawals for $ETH and ERC-20 tokens on the Ethereum Proof-of-Stake (PoS) chain are now open on #Binance. pic.twitter.com/y7Z2BoUuMM
— Binance (@binance) September 15, 2022
The platform suspended operations with assets on September 6 ahead of the Bellatrix “consensus layer” update (Beacon Chain) and on September 15 ahead of The Merge.
Binance noted that the merger in Ethereum has been successfully completed.
The exchange team reminded that it will distribute the token of the PoW fork of the blockchain among users after its launch. ETH holders will receive ETHW coins at a ratio of 1:1 based on a snapshot at the time of The Merge.
“This process typically takes two to five days,” the company said.
ETHW may be listed on the platform after verification applied by Binance to all assets. Support for the distribution of the token does not guarantee the launch of trading for it, the exchange team emphasized.
The developers of the fork project announced the launch of the mainnet and published the main network identifiers.
ETHW Mainnet Info
Network Name: ETHW-mainnet
New RPC URL: https://t.co/MQ04pnPQyW
Chain ID: 10001
Currency Symbol: ETHW
Block Explorer URL(Optional): https://t.co/J3JllmQA8I— EthereumPoW (ETHW) Official #ETHW #ETHPoW (@EthereumPoW) September 15, 2022
At the time of writing, users are complaining about connectivity issues. The blockchain explorer is not working.
oh? pic.twitter.com/CtiLoHORZR
— Kevin 🦇🔊 — building in 🐻 (@kfeng027) September 15, 2022
In early August, the Poloniex exchange announced support for potential Ethereum PoW forks. Today, the company announced that it has chosen not the ETHW project promoted by Chandler Goh, but the EthereumFair (ETF) chain from the ClassZZ platform as the main alternative to the PoS blockchain.
Poloniex has renamed #ETHW as @EthereumFair #ETF and resumed the trading of ETF markets (USDT, USDD, ETH) on Sep 15, at 13:15 (UTC).
The trading history of ETHW markets is inherited by the corresponding ETF markets.
Details: https://t.co/CobIKrUnfK pic.twitter.com/aTAGWpSqus
— Poloniex Exchange (@Poloniex) September 15, 2022
According to the statement, this fork was launched almost immediately after The Merge. According to explorermore than 350 transactions were made in the network.
Add ETF Network to Metamask
===
Network Name : EthereumFair
New RPC URL: https://t.co/tnE8Uuca4A
Chain ID: 513100
Currency Symbol: ETF
ETF Explorer: https://t.co/9vGw904PNj— EthereumFair(#ETF) #ETHPOW #ETHEREUMPOW (@EthereumFair) September 15, 2022
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Source: Cryptocurrency
I’m Meagan Diaz, a news writer and author at World Stock Market. My main focus is on technology and stock market trends, and I’m passionate about helping readers stay informed on the ever-changing landscape. I bring extensive knowledge of the industry to my work as well as a knack for storytelling that makes my articles both accessible and engaging.
