Bitrue introduces ETH PoW token ahead of Merge upgrade

Leading Singapore-based cryptocurrency exchange Bitrue is offering Ethereum Proof-of-Work tokens to users ahead of a merge upgrade that will make Ethereum a Proof-of-Stake blockchain, Coin Journal reports in an exclusive press release. I know from the release. Users holding Ether can claim and trade tokens for free.

Do you support two parallel versions of Ethereum?

Many key stakeholders within the Ethereum ecosystem want to keep their existing PoW infrastructure after the transition and are preparing forks. Then there are two parallel versions of him on the blockchain.

Bitrue allows users to claim tokens via swap and IOU mechanisms. We will also provide a pre-release version of the PoS token before the update. Bitrue Chief Marketing Officer Adam O’Neill commented:

Bitrue has always focused on providing users with unparalleled choice. This is evident in our dedication to providing unique and innovative financial products and the thousands of trading pairs currently available on Bitrue. We were the first crypto exchange to offer his IOU trading in Flare FLR tokens in 2020, responding to overwhelming demand from the XRP community. Now we are happy to do the same for the Ethereum community.

not at risk

All users receive full rights to Proof of Stake Ethereum, regardless of whether a fork occurs or not. This ensures that you are not exposed to any risks.

Exchanges can enhance the speculation options available to interested users by additionally offering proof of work Ethereum as an IOU.

Ethereum’s Merge upgrade is expected to happen in mid-September 2022, but the final date depends on the Ethereum Foundation’s final plans.

Bitrue recognizes PoS Ethereum as the official Ethercoin. The exchange will continue to provide all related services without interruption.