Coinbase says it will "evaluate all potential forks" post-merger

Cryptocurrency exchange Coinbase has updated its information related to Ethereum’s transition to proof-of-stake to include any forks that...



Cryptocurrency exchange Coinbase has updated its information related to Ethereum’s transition to proof-of-stake to include any forks that may occur.

In a Thursday update to an Aug. 16 blog post, Coinbase said it would assess all potential forks in the Ethereum blockchain on a case-by-case basis.” The crypto exchange previously said that he planned to ‘briefly pause’ Ether(ETH) and deposits and withdrawals of ERC-20 tokens during the merger, which are expected to take place between September 10 and September 20.

“Should an ETH PoW fork occur after The Merge, this asset will be reviewed with the same rigor as any other asset listed on our exchange,” Coinbase said.

Exchanges and crypto companies dealing with ETH have made announcements informing customers of all the preparations needed before the merger, from proof of work, or PoW, to proof of stake, or PoS. Many expect blockchain power consumption to drop precipitously, scalability to improve, and the network to be less vulnerable to attack.

It is unclear how crypto users might respond to a forked PoW token listed on Coinbase or any crypto exchange during Ethereum transitions. Wednesday, the platform launched an ERC-20 token which will allow customers to use staked ETH while earning rewards, cbETH.

Related: The quadruple bug bounty for the Ethereum network – Up to $1 million in payouts before the merger

Binance too said On Thursday, it might offer support for new tokens created by a potential hard fork but would “guarantee no listings” without a review process. BitMEX made a similar announcement on August 8, adding that the offer was “highly speculative” and “may never exist”.