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Binance Officially Launches Ethereum PoW (ETHW) Mining Pool


cryptoknowmics.com 29 September 2022 10:13, UTC
Reading time: ~2 m

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.

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