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Bitfinex Offers Ethereum Chain Split Tokens CSTs Before Merge

ETHW, and ETHS are two new tokens from the chain that allow traders to trade during the fork event....
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ETHW, and ETHS are two new tokens from the chain that allow traders to trade during the fork event. Bitifinex, which is responsible for Bitfinex Derivatives (CSTs), announced the launch of a new service to users on Aug. 23 before the highly anticipated Ethereum ( ETH_) Merge. The exchange now offers Ethereum Chain Split Tokens.

The two systems that are involved in the Merge are represented by the tokens: ETHW and ETHS. Bitfinex has released new trading tokens that allow users to trade on the possible forking event.

The Bitfinex derivatives platform will make the coins available.

Paolo Ardoino, Bitfinex’s chief technology officer, stated that they have released the new tokens to better prepare users for any Merge possibilities. The tokens have an expiration date of December 31, 2018.

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The exchange stated that there are three outcomes that these tokens can be used to help users plan.

ETHS will expire if there is not a consensus change to the proof-of work chain. All ETHW holdings will be given ETH. If the consensus change succeeds with no fork, the reverse will occur. ETHW will expire and ETHW exchangeable for ETHS.

Both ETHW tokens and ETHS tokens will receive ETH credit in the event of a successful consensus change or successful fork.

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The industry is on edge with the Merge, scheduled for mid-September. Users want to know if the event will take place in the promised timeframe and if there will be any disruptive side effects.

In the past, the Merge was delayed multiple times . Aave protocols encouraged users to commit to PoS before the time is up, but there has been pushback by the PoW community.

The decision of how to proceed in the Merge is a major challenge for miners. While large mining pools have already begun to shift to staking , PoW miners are planning to freeze contracts in order to preserve PoW despite the doubts.

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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