Coinbase says it will ‘evaluate any potential forks’ following the Merge

Crypto exchange Coinbase has updated information related to Ethereum moving to Proof of Stake to include a possible fork.

In Thursday’s update of the August 16th blog post, Coinbase Said Evaluate potential forks of the Ethereum blockchain on a case by case basis. The cryptocurrency exchange previously planned to pause deposits and withdrawals of Ether (ETH) and ERC-20 tokens during the merge, which is expected to take place between September 10th and 20th. rice field.

In the event of an ETH PoW fork following The Merge, this asset will be subject to the same rigorous scrutiny as any other asset listed on our exchange, Coinbase said.

All potential forked tokens of Ethereum, including PoW forks, go through the same rigorous listing review process that goes for any other asset listed on our exchange.

Coinbase Assets (@CoinbaseAssets) August 25, 2022

From proof of work (PoW) to proof of stake (PoS), ETH-handling exchanges and cryptocurrency companies have made announcements informing clients of the necessary preparations before the merge. Many expect blockchain energy consumption to drop sharply, increasing scalability and making the network less susceptible to attack.

It is unclear how cryptocurrency users will react to forked PoW tokens listed on Coinbase and other cryptocurrency exchanges following the move to Ethereum. On Wednesday, the platform launched her ERC-20 token that allows customers to spend their staked ETH while earning reward cbETH.

Related: Ethereum Network Bug Bounty Quadrupled Up to $1 Million Paid Before Merge

binance too Said On Thursday, it may offer support for new tokens created by a potential hard fork, but without a review process it “does not guarantee listing”.BitMEX make A similar announcement on Aug. 8 added that the offering was “highly speculative” and “may not exist.”