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Sep 29, 2022
by Usha Yadav
Binance Officially Launches Ethereum PoW (ETHW) Mining Pool
Table of contents
By trading volume, the largest cryptocurrency exchange in the world, Binance, unveiled its most recent project on Twitter. It even waived all pool fees for ETHW mining for all ETHW Pool users. However, the $0 pool charge deal is only valid through October 29th. This offer would expire once the promotion time is over. Additionally, the Binance clarified,
"To protect Binance users, ETHW will go through the same strict listing review process as Binance does for any other coin/token. Supporting ETHW on Binance Pool does not guarantee the listing of ETHW. Binance does not guarantee any listings as per our internal policy."
Ethereum Proof-of-Work Support
Only withdrawals were permitted for ETHW on the exchange, according to Binance. Users have the option of selling their ETHW for BUSD and USDT. Deposits, however, were closed. The Ethereum [ETH] Merge got completed, but it also caused a significant industry rift.
After switching from Proof-of-Work (PoW) to Proof-of-Stake (PoS), the entire network underwent a considerable transformation. Due to this shift, the need for miners ended. However, many people strongly desired to keep PoW mining. As a result, several platforms that had previously rejected this chain decided to offer support. Through the launch of the Ethereum Proof-of-Work [ETHW] Mining Pool, Binance increased the visibility of ETHW.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.