Cryptocurrency exchange Coinbase has updated its information associated with Ethereum transitioning to proof-of-stake to incorporate forks that may arise.
Inside a Thursday update for an August. 16 blog publish, Coinbase stated it might evaluate any potential forks within the Ethereum blockchain on the “case by situation basis.” The crypto exchange formerly stated it planned to ‘briefly pause’ Ether (ETH) and ERC-20 token deposits and withdrawals throughout the Merge, likely to occur between Sept. 10 and 20.
“Should an ETH Bang fork arise following a Merge, this asset is going to be reviewed with similar rigor just like any other asset that’s for auction on our exchange,” stated Coinbase.
Be assured, all potential forked tokens of Ethereum, including Bang forks, will feel the same strict listing review procedure that is performed for just about any other asset for auction on our exchange.
— Coinbase Assets (@CoinbaseAssets) August 25, 2022
Exchanges and crypto firms getting ETH make bulletins informing clients associated with a formulations needed in front of the Merge from proof-of-work, or Bang, to proof-of-stake, or PoS. Many expect the blockchain’s energy consumption to decrease precipitously, scalability to enhance, and also the network is going to be less susceptible to attacks.
It’s unclear how crypto users might react to a forked Bang token for auction on Coinbase or any crypto exchange as Ethereum transitions. On Wednesday, the platfor launched an ERC-20 token that will permit people to use staked ETH while earning rewards, cbETH.
Related: Bug bounty quadruples for Ethereum network — As much as $1M payouts in front of Merge
Binance also stated on Thursday it might offer support for brand new tokens produced with a potential hard fork but would “not guarantee any listings” with no review process. BitMEX made an identical announcement on August. 8, adding the offering was “highly speculative” and “might never exist.”
