Earlier this month, Ethereum completed its transition from Proof-of-Work (PoW) at Proof-of-Stake (PoS). If this new consensus seems to suit the network, some miners feel neglected and the fracture is inevitable. Faced with the growing desire of the latter to keep PoW mining, Binance is taking matters into their own hands and launching an Ethereum PoW mining pool.
Binance, a mining pool for proponents of Proof-of-Work
Ethereum literally held the crypto sector hostage with the announcement of its transition this year. Indeed, the second largest blockchain has been widely talked about and the results seem to live up to the promise. However, if the Proof-of-Stake suits many investors, the needs of some miners are negated.
Presumably, The Merge does not convince the whole ecosystem and several people show their desire to keep the PoW mining pool. In view of this growing desire, many platforms that initially rejected this channel decided to expand support and among them Binance.
Indeed, Changpeng Zhao’s crypto company has announcement his last initiative on September 29 on Twitter. The world’s largest exchange by transaction volume has bolstered ETHW’s presence by rolling out an Ethereum Proof-of-Work (ETHW) mining pool. But that’s not all ! The platform has also decided to offer all pool users zero pool fees on ETHW mining.
ETHW is doing pretty well despite everything
While the Proof-of-Stake is widely talked about, the ETHW is not doing as badly as we thought. While the cryptocurrency market is still dealing with the crisis, the last two days have been rather favorable for the token which seemed to be gaining ground.
Indeed, at the time of going to press, the asset was negotiating at $11.90 with a slight drop of 0.77% in the last 24 hours. However, it should be noted that during the week, ETHW managed to reach a high of $13.78. Thus, Binance’s mining pool comes into its own.
However, the aforementioned zero pool fee offer is only valid until October 29. The crypto platform has made things clear by implying that this promotion does not involve listing ETHW. Thus, only withdrawals are allowed on the exchange in accordance with its internal policy.
Although the crypto asset exchange only validates withdrawals for ETHW, users still have the option to sell their tokens. To do this, they can sell them ETHW for USDT or BUSD. However, the depots remain closed.
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