Top crypto exchange goes further to give updates on potential ETH PoW chain
After the Ethereum merge is complete, Binance Ethereum has resumed deposits and withdrawals for ETH and ERC-20 tokens on the Proof-of-Stake (PoS) chain. Binance previously suspended deposits and withdrawals prior to the Ethereum merge, which was completed when ETH mainnet block height 15,537,393 on September 15, achieved terminal total difficulty (TTD) of 5875000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 ETH Went.
The top crypto exchange goes further to give updates on the potential ETH PoW chain. It says that if the potential Ethereum proof-of-work chain (ETHW) is successfully implemented, eligible users will be credited ETHW at a ratio of 1 ETH = 1 ETHW in their Spot wallets, based on their net ETH balances across eligible wallets at the snapshot time as of the time of Merge. While the process may take about two to five days, Binance says it will notify users in a separate announcement once the distribution is complete and when deposits and withdrawals for ETHW are enabled, or if the ETHW chain is unsuccessful.
As reported by U.Today, Binance temporarily suspended ETH and ERC-20 token deposits and withdrawals during the Bellatrix update on September 6, while it said that it would allow BETH deposits and withdrawals to begin on September 14. Will temporarily suspend and end at 12. At noon UTC on 16 September.
This might imply that BETH deposits and withdrawals remain suspended on the network until Sept. 16. It was also stated then that “ETH 2.0” staking on Binance would continue after the proof-of-stake transition. However, until Ethereum’s Shanghai upgrade in a few months, functionality for the withdrawal and redemption of the staked ETH will not be available.
ETH Merge Launch
As reported by U.Today, the Ethereum Merge was completed. ETH creator Vitalik Buterin took to Twitter to celebrate the moment.
He wrote, “And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.”
Various congratulatory messages came in from top celebrities in the crypto space including Yuga Labs, Ripple CEO Brad Garlinghouse and many others.
