Poloniex Takes Action Against Possible Ethereum Dilemma

Chandler Guo, one of China’s largest cryptocurrency miners, has announced that he opposes the update to the Ethereum blockchain. Poloniex, one of the crypto money exchanges, is taking precautions against both scenarios.

Guo is a startup on the Ethereum blockchain. fork on the Ethereum network proof-of-work (PoS) I want to continue the version.

The Ethereum community is currently working with the proof-of-work algorithm. proof-of-stake (PoS) trying to pass the algorithm.

If the Ethereum community is successful Miners on the Ethereum network suffer can see. Guo for this reason ETHW, which will allow Ethereum miners to continue mining Trying to create a fork.

Poloniex, one of the crypto exchanges, decided to support this plan of Guo. According to the statement made by Poloniex, the stock market “An update to ETH, as well as a potential fork to happen” will support.

Poloniex users will be able to do so from August 8th. It will be able to trade with ETH-ETHW parity.

If the Ethereum community successfully transitions to the proof-of-stake algorithm, Poloniex It will stop transactions made with ETHW and exchange users will be able to convert ETHWs in their accounts to ETH.

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