Binance Opens Free Ethereum Proof-of-Work (ETHW) Mining Pool
Binance, the largest cryptocurrency exchange in the market, announced the opening of Ethereum Proof-of-Work (ETHW) mining service from September 29.
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Exchange Binance says customers can now join the mining pool EthereumPoW (ETHW), a forked version of Ethereum that retains the blockchain's original Proof-of-Work (PoW) algorithm.
ETHW Pool will not charge fees from here until October 29, according to an announcement published by Binance. However, it should also be noted that:
- Currently, Binance only supports mining, but has not committed to listing ETHW;
- Binance does not support deposits and will open ETHW withdrawal portal from September 29, 2022;
- Users can only convert ETHW to BUSD or USDT, vice versa.
So it has been two weeks since The Merge was successfully activated, marking a historic milestone of "moving home" from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus, completely eliminating The whole mining mechanism consumes a lot of energy. Since then, a forked version of Ethereum has been born, although the start is not smooth, many people still expect ETHW to make a miracle when inheriting the legacy of ETH.
In theory, the customer support of Binance, a giant in the crypto-exchange space, could power forks, despite being called a freak by the creators of Ethereum themselves.
FoxCryptoNews summary
Sep 30, 2022
