The Merge of Ethereum (ETH): Huobi Global says the platform will support hard forks

Cryptocurrency exchange Huobi Global informs its customers that the new assets would be supported if a hard fork from Ethereum (ETH) created two new blockchains. However, terms and conditions are set and the platform states that it does not sponsor such events.

Huobi accepts assets from potential Ethereum hard forks under certain conditions

The cryptocurrency exchange platform Huobi Global has responded to its users about a possible hard fork from Ethereum (ETH). While The Merge is expected on September 19th, some of the community is wondering about the possibility two blockchains that would emerge. This could happen if a subset of miners decides to continue producing blocks in the Proof-of-Work (PoW) chain.

In the event of a hard fork, where both chains would continue to operate, an investor would then have as many assets on one chain as on another as if they had been cloned.

While an Ethereum PoW is unlikely have any future After moving to Proof-of-Stake (PoS), Huobi still maintained that the exchange would support hard fork assets. But they will have to meet certain requirements.

For example, players wishing to proceed with such an operation must report to Huobi Global prior to the hard fork. Also a new string should not be made absorb or be eliminated by the other. The two blockchains must also be very different, as in the case of Ethereum and Ethereum Classic (ETC) in particular.

All of these elements apply to ETH, but also to other assets that exist and may follow in the current blockchain.

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interest in platforms

If such events occur, it is in the interests of the platforms of list created assets. We recently had the case with LUNA and LUNC after the terra ecosystem collapsed. When an exchange fails to recognize cryptocurrencies from a hard fork while its competitors do, its customers’ trust would get a hit.

However, Huobi Global discourages cases of hard forks without technical interesteven if she sides with the community:

“However, we do not promote forks without tangible innovation and improvement, and we reject any form of pre-mining behavior. This worthless behavior will cause community divergence, industry confusion, and user misunderstandings. »

Again, nothing is less certain about the future of a hypothetical PoW version of Ethereum post-merge. Most ecosystem players actually look to the future. Despite everything, these explanations will have the merit calm down a bit People raising concerns about potential failure when transitioning to proof-of-stake.

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Source: Huobi Global

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Kaddouri Ismail

I am Ismail from Morocco, I work as a blogger and online marketer. I am also the founder of the “Mofid” site, in which I constantly publish many important articles in the field of technology, taking advantage of more than 5 years of experience working in the field. I focus on publishing in a group of areas, the most important of which are programming, e-marketing, digital currencies and freelance work.

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