Leading Korean crypto exchanges will support PoW-Ethereum after the update

Posted 06 September, 2022

The DAXA alliance, which includes leading Korean crypto exchanges, announced support for the PoW version of Ethereum after the blockchain upgrade, decenter.kr reported . The platforms are considering the listing and delisting of a new asset, as well as its airdrop (distribution).

The DAXA alliance, created in June this year, united the 5 largest exchanges in South Korea: Upbit, Gopax, Bithumb, Coineone, and Korbit. So far, apart from a statement of support, no action has been taken, but sources confirmed to the publication that the exchanges will try to avoid the loss of assets by clients.

The Ethereum blockchain upgrade will consist of two phases. The first will be an update called Bellatrix, which starts on September 6th. If successful, the Paris update will be launched. As a result of the update, it is possible to split (hard fork) the network into a PoS version (new) and a PoW version (old). If this happens, then two Ethereum tokens will emerge, for each network option.

Previously, other crypto exchanges have already supported the trading of such tokens: Poloniex and MEXC platforms announced the start of ETHS and ETHW trading, and BitMEX launched a futures product based on ETHPoW tokens. Binance also announced that it will consider supporting new Ethereum tokens.

 

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