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After the announcement of Poloniex to list the ETH on the exchange, Justin Sun came to support ETH PoW. He tweeted,

“We currently have more than 1 million ETH. If Ethereum hard fork succeeds, we will donate some forked ETHW to the ETHW community and developers to build the Ethereum ecosystem.”

In December, Tron founder Justin Sun deposited more than 165,000 Ethereum coins on the Binance exchange. Sun developed Tron as a competitor to Ethereum with similar functionalities and lesser processing time.

Poloniex to List ETH Potential Hard Fork Tokens

The ETH 2.0 Merge upgrade is expected to begin in September 2022 on Ethereum. Poloniex, the first exchange in the world to accept Ethereum and Ethereum Classic, will fully support ETH’s upgrade and any potential hard forks. If the Merge is successful, the upgrade can result in the creation of two parallel blockchains. When the update is finished, all Ethereum (ETH) holders on Poloniex will receive the forked assets in a 1:1 ratio.

Ethereum Merge

The impending merging would likely accelerate Ethereum’s transition to institutional-grade investment to switch the consensus layer from Proof-of-Work to Proof-of-Stake. During The Merge, Ethereum will migrate from the inefficient Proof-of-Work (PoW) consensus process popularised by Bitcoin to a Proof-of-Stake (PoS) system. Some supporters of Proof-of-Stake think that switching techniques will improve security and scale and reduce the network’s energy consumption by 99.95%.

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