The Merge was successfully completed by Ethereum [ETH], 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 significant transformation. Therefore, there was no longer a need for miners.
This did not sit well with them, and many people developed a strong desire to keep PoW mining. With it in place, a number of platforms that had previously rejected this chain made the decision to offer support. Through the launch of the Ethereum Proof-of-Work [ETHW] Mining Pool, Binance increased the visibility of ETHW.
By trading volume, the largest cryptocurrency exchange in the world unveiled its most recent project on Twitter. Binance even made the decision to charge no pool fees for mining ETHW for any of its ETHW Pool customers.
It should be noted that the $0 pool charge deal is only valid through October 29th. This offer will expire once the promotion time was through.
Additionally, Binance clarified the situation by asserting that the most recent news did not portend the listing of ETHW. The announcement stated,
“In order 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.”
Only withdrawals were permitted for ETHW on the exchange, according to Binance. Users were able to exchange their ETHW for BUSD and USDT, however deposits were blocked.
EthereumPoW’s success rate
The past few days have been quite helpful to ETHW. while the market as a whole was in a downturn. It seems that EthereumPoW was making gains. The asset’s price was $12.60 at the time of writing, with a rise of 18.00% over the last 24 hours. It should be noted that ETHW was able to climb to a week high of $13.78.
