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

Tweet: https://twitter.com/binance/status/1575366213869490176

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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