Summary:
Crypto exchange Bybit intends to aid ETHW, the proof-of-work hard fork of Ethereum’s blockchain.Bybit said ETHW tokens will be listed following the merge.The crypto exchange may also support airdrops, deposits, and trading for ETHW coins eight hours following the upgrade.
Major cryptocurrency exchange Bybit will support the Ethereum proof-of-work hard fork called ETHW, the platform announced with a website update and tweet on Wednesday. Also, the exchange will support ETHW token airdrops and trading following merge.
The exchange shared the news headlines before Ethereum’s upcoming upgrade from proof-of-work to proof-of-stake. “The Merge” because the upgrade is well known inside the crypto community is hours away at press time.
Ethereum PoS would adopt an energy-efficient consensus mechanism and leverage network participants with staked Ether (ETH) for network security among other key blockchain needs. These participants are referred to as Stakes in a very PoS network and would essentially replace miners.
Bybit PREPARED TO Distribute ETHW Tokens IMMEDIATELY AFTER The Merge
Bybit said ETHW tokens will be distributed eight hours following the merge goes live. The exchange plans to aid the airdrop, hard-forked token deposits, and trading. Bybit may also list ETHW/USDT for futures trading via perpetual contract.
🔥 We are supporting $ETHW airdrop, deposit & ETHW/USDT Spot Trading after #TheMerge on Sep 15.
⏱️ $ETHW airdrop will undoubtedly be completed within 8 hours of this Merge.
👉 Get more information: https://t.co/u0CcA1cptG
🙌 Deposit your $ETH on Bybit: https://t.co/ozRIbaWZO8 pic.twitter.com/5V1nLVT6kw
– Bybit (@Bybit_Official) September 14, 2022
On Tuesday, EthereumWorldNews reported over a timeline update from ETHPoW, the team behind plans to hard fork Ethereum’s blockchain through the merge and sustain a PoW ecosystem. The procedure would maintain Ethereum’s block history up till the PoS upgrade.
ETHPoW plans to launch its decentralized PoW network within a day of Ethereum’s PoS upgrade. It remains unclear just how many exchanges intend to support ETHPoW at press time. Platforms like Deribit and OKX said tokens could be listed if users show demand for such coins.
However, major stakeholders like Tether (USDT) and Circle (USDC) usually do not plan to support forked protocols or coins at press time.