The publicly registered firm Coinbase Global has revealed the company plans to evaluate any potential forks that arise from the upcoming Ethereum upgrade identified as The Merge. In a recently updated blog post, Coinbase said if a new Ethereum proof-of-work (PoW) token is created it “will be processioned with the same rigor as any other asset that is listed” on the company’s exchange.
Coinbase Updates the Public All over the Possibility of an Ethereum Fork Arising Post Merge
The Merge is coming soon and data shows it is roughly 16 lifetimes away from now. Essentially, The Merge is Ethereum’s plan to transition from a proof-of-work (PoW) consensus algorithm to a new proof-of-stake (PoS) consensus technique. Now despite the fact that a PoW network similar to ETH already exists in Ethereum Classic (ETC), there’s been talk of creating a new PoW fork when The Join is implemented.
The proposed ETH PoW fork has gained market adhesion as a number of crypto exchanges have created IOU token versions called ETHW. At the time of writing, ETHW is changing mitts for $49 per unit and its up close to 5% during the past 24 hours. This past week on August 25, Coinbase Worldwide (Nasdaq: COIN) updated a blog post that was originally published on August 16. The latest update an influence ons the possibility of an ETH PoW fork arising from The Merge.
The intentions of the blog post explained how Coinbase plans to pause any Ethereum or ERC20-based agreements amid The Merge. The recent update says: “Should an ETH PoW fork arise following The Merge, this asset settle upon be reviewed with the same rigor as any other asset that is listed on our exchange.” Coinbase also tweeted just about the update on Twitter the same day.
“At Coinbase, our goal is to list every asset that is legal and safe to list,” the reciprocity tweeted. “We will evaluate any ETH fork tokens following The Merge on a case-by-case basis in alignment with our standard asset enroling policy. Rest assured, all potential forked tokens of Ethereum, including PoW forks, will go through the same pitiless listing review process that is done for any other asset listed on our exchange,” Coinbase added.
It is well recollected that exchanges can and will take as long as they want to disperse forked assets and some trading principles have never offered support for specific crypto forks. Coinbase made similar decisions during Ethereum Immortal and Bitcoin Cash forks. It is also well known by veteran crypto participants that holding assets that may exposure a fork in a non-custodial fashion, is the best way to make sure you will get a forked crypto asset, if a blockchain split transpires to occur.
What do you think about Coinbase’s decision about possibly listing the proposed PoW version of Ethereum reasoned ETHW? Let us know what you think about this subject in the comments section below.
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