Cryptocurrency exchange Coinbase has promised to evaluate forked Ethereum tokens in its ‘Merge’ policy update. Coinbase is changing its planned response to the biggest tech upgrade of the leading altcoin Ethereum (ETH).
Coinbase will evaluate possible Ethereum fork altcoin projects!
cryptocoin.comAs you follow, one of the most popular topics of recent times is Ethereum Merge. There are many different scenarios being discussed on this subject. One of them is the altcoin projects that will occur in case of Ethereum forking after Merge. Coinbase pledged on Thursday to ‘evaluate’ Ethereum forks that are likely to appear after the Ethereum Merge. Thus, it has reopened the door to listing to competing tokens, likely to emerge after the imminent technology update of the popular Blockchain.
In an August 25 edit, Coinbase said it was discussing what customers should know about the technology upgrade. In this vault, Coinbase explained, “If an ETH Proof-of-Work (PoW) fork emerges after Merge, this asset will be scrutinized with the same rigor as other assets listed on our exchange.” The policy change illustrates how exchanges navigate Ethereum’s long-delay transition to a Proof-of-Stake (PoS) consensus mechanism that will reshape the functioning of the decentralized financial hub.
The tokens of the forked project will be listed at the same time as the parent token
Coinbase and other crypto exchanges are broadly supporting the energy conservation movement. However, other stakeholders (especially some Ethereum miners) do not support it. What if Coinbase continues to process transactions for the PoW version of the network after the Merge? In this case, a fork with its own alternative Ethereum token will emerge.
Coinbase has previously promised to support PoS money. But he had not addressed the possibility of bifurcation. Meanwhile, the Ethereum community has largely rejected the plans of some outside players to launch a fork of PoW. Coinbase said its update reflects “the company’s decision to consider possible forks on a case-by-case basis.” In other words, if an alternative Ethereum fork passes Coinbase’s listing smell test, it will be possible for crypto assets to be listed at the same time. The exchange will list the forked altcoin token along with its PoS main blockchain. Users will also have the opportunity to trade with different tokens.
Meanwhile, the world’s largest crypto exchange Binance is also making room for forked tokens, with plans to lend users’ accounts with alternatives from ‘minority Blockchain’. Coinbase’s decision came after that. In addition, the exchange is reviewing these tokens before making them available for trading. In this context, it is reviewing according to the listing policy.
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