Binance exchange opens free Ethereum Proof-of-Work (ETHW) mining pool

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2022-10-05 09:37:42

Starting today (September 29), users can use Binance’s Ethereum Proof-of-Work (ETHW) mining service.

The largest cryptocurrency exchange in the market – Binance recently announced the opening of an Ethereum Proof-of-Work (ETHW) mining service from April 1, 2020. September 29, 2022. EthereumPoW (ETHW) is a forked version of Ethereum that retains the original Proof-of-Work (PoW) algorithm of this blockchain.

Binance announced on official Twitter


ETHW Pool will not charge fees from now 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.

It’s been 2 weeks since The Merge event took place successfully, marking a completely new milestone for Ethereum, specializing from Proof-of-Work (PoW) consensus to Proof-of-Stake (PoS), eliminating the mechanism. Mining takes a lot of energy. Also from this time, a forked version of Ethereum was born, despite the unfavorable start, most users still expect ETHW to create a miracle when inheriting the legacy of ETH.

An interesting point is that although CEO Changpeng Zhao was once called by the creator of Ethereum himself to be a “fake” but such customer support by Binance can power forks.

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