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HomeAltcoinsCrypto exchange BitFinex announces to support ETHPoW fork by offering new Chain...

Crypto exchange BitFinex announces to support ETHPoW fork by offering new Chain split tokens to its users

On August 23, Bitfinex officially announced the plans for supporting Ethereum Proof-of-Work (ETHPoW) fork, via press release.

Bitfinex unveils the launch of Chain Split Tokens on the Ethereum network. iFinex Financial Technologies, which is also the subsidiary of iFinex Inc, was responsible for this launch. iFinex also looks after all the activities of BitFinex Derivatives.

After the Ethereum merge, Ethereum CST allows users to trade both the ETH PoS and ETH PoW tokens simultaneously on the BitFinex Derivatives platform. Both the tokens are available in pairs with the tickers ETHW and ETHS respectively.

BitFinex Derivatives CTO, Paolo Ardoino said, “we are happy to give our clients access to the new ETH CST tokens to help plan for all possibilities as we approach the Ethereum merge.”

Moreover, Jag Kooner, BitFinex Derivatives Product Manager further added, “in addition to the fact that we are attempting to give the best user experience, we also request our users to provide the necessary feedback while planning products like this.”

As the Ethereum merge approaches close, ETHPoW fork will receive more help from across the crypto industry.

Chandler Guo, a Chinese miner, unveiled plans to fork ETH “once more” via a tweet on July 27. It is critical to notice that Guo was one of the brilliant minds behind the Ethereum Classic – one more fork of Ethereum.

Many entities such as Huobi, Tron’s Justin Sun and Poloniex, from the industry came forward to support the ETH fork. Apart from these entities, BitMex, on August 8 also announced the launch of ETHPoW margin trading with USDT (Tether) pair.

As per Binance, it is not confident about theEthereum merge event. So, Binance has not revealed any support for the fork.

In the midst of this, the truth of ETHPoW seems unavoidable. Fourteen days back, the team of ETHPoW published an open letter, declaring that the fork was “inevitable.”

As per the team, they have eliminated the Ethereum trouble bomb on the forked variant. This comes as an immediate resistance to proponents, including the ETC Cooperative, who have requested Guo to drop the dream.

BitFinex is a cryptocurrency exchange platform and was launched in September 2019. It is owned and operated by iFinex Financial Technologies Limited and offers derivative trading on its platform.

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