coinbase is official announcement We will consider the final cryptocurrency resulting from the PoW fork of Ethereum to be listed on that exchange.
Coinbase Considers New Cryptocurrency Resulting From Eventual Ethereum Fork
As of today, it is still unknown if there will be a PoW fork of Ethereum and if the cryptocurrency that is supposed to result from this fork will survive.
What is known is that as of September 15th, Ethereum plans to move to PoS (Proof-of-Stake). Sale of Current PoW (Proof-of-Work) Based Blockchain.
However, some node operators and some miners seem to be in favor of keeping older PoW-based blockchains or forking the Ethereum protocol to avoid the move to PoS.
In such cases, new blockchains are effectively born, using new cryptocurrencies. Split current chainAs of now, the eventual new cryptocurrency is called ETHPOW, but it is not yet clear if it will really come into being, and more importantly, if it will survive.
In fact, Ethereum itself is a protocol that was born out of a fork from the previous protocol, now known as Ethereum Classic (ETC), and is based on PoW. ETC will not switch to PoS, so Ethereum nodes and miners who do not want to switch to PoS should Just migrate to Ethereum ClassicIn other words, there already exists a PoW blockchain that is compatible with Ethereum, so it doesn’t seem necessary to fork Ethereum to maintain a PoW blockchain.
division of the community
To date, all exchanges have said they are in favor of merging, or moving Ethereum to PoS, while Coinbase lists new cryptocurrencies that could result from an eventual fork. It is the first major exchange to say it has potential. bitfinex previously expressed similar views but did not explicitly state that they were considering Add new cryptocurrencies possible.
On the other hand, the famous mining pool AntPool operated by Bitmain, officially stated Do not keep users’ ETH in the PoS chain after merging. In other words, when the switch to PoS takes place, ETH mining will stop, so her ETH accumulated in AntPool will simply be returned to the user. However, ETC mining will continue.
The past few days, 2.6 million ETH burned Through last year’s London update. in totalthe net supply of burned Ethereum increased by 2.5 million ETH over the past year, as 5.1 million new ETH were created in the same period.
There are currently 120 million ETH in circulation, compared to 117 million a year ago.Therefore, in one year, the supply of Ethereum will be Approx. 2.5% increase.