Japanese crypto exchange bitFlyer stated that it will keep an eye out for any hard forks that may occur due to Ethereum’s switch from proof-of-work (PoW) to proof-of-stake (PoS). This is so that forked tokens can keep relying on PoW could be supported.
bitFlyer stated in a blog post published on Monday that it will take into consideration the situation before stating whether any forked tokens will be supported.
According to a rough translation of the Japanese blog post, it was written that they are keeping an eye out for the ETHPoW tokens’ value and clients’ requests and will consider granting and processing ETHPoW tokens in kind, or issuing cash corresponding to their worth when needed.
The exchange also stated that, before handling any new tokens, it must receive approval from the Japanese Virtual Crypto Assets Exchange Association (JVCEA).
Major exchange Binance stated earlier that it will evaluate and consider adding support for any ETH tokens that forked this month, while FTX stated it will “evaluate the distribution” of any forked tokens.
In its comment of the subject, FTX added if it decides to release forked tokens, it will distribute the tokens once the project has been concluded.
OKX and other significant crypto exchanges also made similar remarks.
The US-based crypto exchange Kraken stated in the report earlier this month that the PoW vs. PoS question is a no “black and white” answer.
Instead, the report advised anyone considering adopting a blockchain network to gain a “nuanced understanding of the two and their trade-offs” in order to choose a solution that is “better suited” to their requirements.
