Japan crypto exchange bitFlyer has stated it’ll “pay close attention” to the hard forks that could occur because of Ethereum’s (ETH) transition from proof-of-work (Bang) to proof-of-stake (PoS), which forked tokens that still depend on Bang might be supported.
Writing inside a blog publish printed on Monday, bitFlyer didn’t clearly condition whether any forked tokens is going to be supported, but stated it’ll contemplate it “depending around the situation.”
“We will seriously consider the need for ETHPoW tokens and demands from customers, and with respect to the situation, we’ll consider granting and handling ETHPoW tokens in kind, or issuing cash equal to their value,” a tough translation from the Japanese blog publish stated.
The exchange added that it’ll require the approval from the Japanese Virtual Crypto Assets Exchange Association (JVCEA) before any new tokens can be treated.
Earlier this year, the main exchange Binance stated it’ll “evaluate and think about support” for just about any forked ETH tokens, while FTX has stated it’ll “evaluate the distribution” associated with a forked tokens. “If FTX decides to distribute forked tokens, we’ll distribute the tokens following the project has completed,” FTX put in its statement around the issue.
Similar wording seemed to be utilized in a statement from OKX along with other major crypto exchanges.
Earlier this year, the united states-based crypto exchange Kraken opined inside a are convinced that there’s no “black and white” answer towards the Bang versus. PoS question. Rather, anybody considering utilizing a blockchain network should create a “nuanced understanding of these two as well as their trade-offs” to find out which choice is “better suited” for their needs, the report stated.
Ethereum’s Merge – or transition from Bang to PoS – is anticipated to happen around September 15.
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