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Poloniexone of the oldest cryptocurrency exchanges on the market, has announced that it will support all forks around the Ethereum merger.
As reported by CriptoNoticias, a group of miners has the initiative to continue maintaining the Ethereum network with proof of work (PoW)which would create, at the time of the merger, two Ethereum chains.
In the ad, Poloniex announced that, in order to “mitigate the risks of market volatility and safeguard the assets of its users”, from this August 8 the exchange “will list two potentially forked ETH tokens”. These are ETHW (with proof of work) and ETHS (with proof of stake).
Before the merger, the stage that will give birth to Ethereum 2.0 (and which is expected to happen around September 19), Poloniex will take a “snapshot” of your users’ balances. If the chain does not fork, keeping only Ethereum with PoS, ETHS will immediately convert to ETH within user accounts. On the other hand, if it forks, the corresponding ETH will be awarded for each network. In either case, ETHS will officially become ETH, since this will be the main Ethereum chain.
Poloniex warns about the risks involved in exchanging ETHW and holding it during the mergergiven that, if the chain does not fork, these funds will not be allocated.
Also, the exchange explains that, if there are more forks of Ethereum during the merger, the platform will provide support and allocate the funds of each of these.