AntPool has announced that after the Merge upgrade, its customers will not hold their assets in Ethereum.
AntPool, managed by mining giant Bitmain, stated that after the transition to the Proof-of-Stake algorithm, customers will not keep their assets in Ethereum.
AntPool Won’t Keep Customer Assets On Ethereum
Merge will enable Ethereum to transition from proof-of-work algorithm to proof-of-stake. This transition will eliminate the need for transactions to be verified by miners.
AntPool is a mining pool where Ethereum users can share processing power for reward mining. AntPool sends users mining rewards to their accounts.
The company announced today a plan to settle ahead of its Merge upgrade, saying it won’t keep customers’ assets on the Eth 2.0 network.
According to the company’s statement, the company has taken such a decision due to the “risk of censorship”. This is due to growing concerns that Ethereum validators may censor transactions due to US sanctions due to Tornado Cash.
“As Eth 2.0 comes with the risk of censorship between different countries, AntPool will not keep users’ assets on the PoS chain for the sake of security of customers’ assets”
AntPool has asked its customers to add their own private addresses to their accounts by September 3. The firm will then send PoW mining payments to these addresses.
