Poloniex has started trading for potential Ethereum hard fork tokens as early as 18 hours. Here are the announcements of Bitcoin and altcoin exchange…
Poloniex launches trading for some altcoin projects
In a tweet on Sunday, Tron founder Justin Sun confirmed that his exchange Poloniex has started trading potential Ethereum hard fork tokens, the ETHW Proof-of-Work (PoW) chain, and Proof-of-Stake (PoS) for ETHS. The chain claims it is in high demand with it being 18 hours ahead of schedule. Sun used the following statements:
ETHW and ETHS trading is now live on Poloniex! We were thinking of putting it into operation on August 8th. However, after strong community demand, we were able to deliver the product 18 hours early. We went live on August 7 at 16:00 SGT! Enjoy trading!
https://twitter.com/justinsuntron/status/1556215289229950978
Possibility of PoW fork for Ethereum
It’s worth noting that there has been growing speculation about a potential Ethereum PoW fork as Ethereum Merge approaches. The push for another hard fork garnered support from several disgruntled miners, Huobi and Sun’s Poloniex exchange. Notably, Sun promised developers and community members an ETHW allocation last Thursday that will make the hard fork a reality. Reports reported that backers claimed there were around 50 developers on the project.
https://twitter.com/justinsuntron/status/1555112296006922240
Sun’s latest announcement was met with some confusion and pessimism on Twitter. Some users described it as a scam, saying they would release the asset to traders. In particular, Ethereum founder Vitalik Buterin commented on the agitation over the weekend. He stated that hard fork supporters are the owners of exchanges trying to make money from users. Additionally, Buterin says that Ethereum Merge has been widely adopted. For that, he doesn’t believe these efforts will gain traction.
As Cryptokoin.com also reported, Ethereum Merge, which is planned to be held in September, will enable the transition of the blockchain network to the PoS Beacon chain. As a result, experts expect it to significantly improve the scalability and efficiency of the network while reducing energy consumption. However, while merging promises to improve user experience, it is seen as a potential nightmare for miners who continue to lose their income sources. Specifically, the developers are already starting aggregation on the final testnet. Ethereum is trading above the $1,730 price point, up 3 percent in the last 24 hours and 2.32 percent in the previous seven days.
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