February 22, 2024

The oldest British cryptocurrency exchange will stop trading in ether due to upcoming updates to Ethereum 2.0

The oldest British cryptocurrency exchange will stop trading in ether due to upcoming updates to Ethereum 2.0

Coinfloor exchange plans to exclude ETH from the list of trading instruments, citing the uncertainty of future Ethereum hard forks and the difficulties with technical support for this cryptocurrency.

The first cryptocurrency exchange of Great Britain intendsabandon the air on January 3, 2020, shortly before the launch of the Ethereum 2.0 protocol. The upcoming platform update is moving from a proof of work (PoW) algorithm to proof of ownership (PoS).

According to representatives of the exchange, such technical experiments of developers can drag on for years andregularly lead to network outages, which will become burdensome for retail traders.

Coinfloor CEO Obi Nwosu Says Ethereum's Frequent Upgrades Are Forcingthe exchange is constantly making changes to its platform, which brings more headaches than benefits.Adding that abandoning ether will allow them to focus on the bitcoin market, which is in significantly higher demand, and for thisThe year has been much better.

In addition to ETH, Coinfloor also intends to stop supporting bitcoin cache.

In addition to the British exchange, the creator of BitTorrent also criticized Ethereum's development plans earlier.

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