Coinbase, the largest US crypto exchange, announced that it will evaluate potential forks after Merge.
Coinbase said that if an Ethereum Proof of Work fork emerges after the Merge, it will be treated with the same rigor as other assets on the exchange.
The exchange has updated information on Ethereum’s transition to the proof-of-stake algorithm to include potential forks.
Coinbase to Evaluate Ethereum Forks
The cryptocurrency exchange noted that it will evaluate forks on the Ethereum blockchain “on a case-by-case basis”. The exchange previously stated that it plans to pause deposits and withdrawals of Ethereum and ERC-20 tokens “for a short time” during the Merge, which is expected to take place between September 10 and September 20.
“If an Ethereum proof-of-work fork emerges after Merge, it will be scrutinized with the same scrutiny as other assets within our body.”
Exchanges listing Ethereum made announcements informing customers about the chain’s transition from PoW to PoS algorithm. Analysts note that there will be great savings in energy use, while the network will be less vulnerable to attacks.
Coinbase has launched cbETH, an ERC-20 token that allows its customers to redeem staked ETH.
