Binance Will Support the Ethereum Mainnet and Its Forks

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The Binance trading platform, against the backdrop of Ethereum’s transition to the Proof-of-Stake algorithm, stated that it is ready to support both the main blockchain and its forks on Proof-of-Work.

Binance announced on its blog that it is readysupport Ethereum's transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), scheduled for September 19. However, the platform will also support opponents of the merger who plan to continue to use PoW and create network forks.

“In the event of forks occurring, Binance will support the distribution and withdrawal of these assets,” the statement said.

The company warned that new crypto assetsmust comply with the exchange's listing policies. The exchange said in a statement that these assets will undergo the same rigorous verification process that Binance requires of any other cryptocurrency or token.

Ethereum's transition to PoS has divided the industry intothose who support the initiative of Vitalik Buterin and those who advocate forks on PoW. Recently, one of the large ether miners refused to switch to PoS and announced the creation of a new minority network ETHPoW. 

At the beginning of the month, the protocol developersChainlink categorically refused to support Ethereum forks. Circle, the issuer of the second largest centralized stablecoin USDC, has announced its intention to fully support the network merger.