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Bitfinex, a state-of-the-art digital token trading platform, will be supporting the Ethereum Merge enabling customers to enjoy a seamless transition as Ethereum undergoes its most significant software upgrade to date.
The Merge is one of the most important chapters in Ethereum's history as it permanently changes the underlying consensus mechanism, which is used to secure the blockchain network.
When the Merge takes place it will take the current Ethereum blockchain, that operates on a proof-of-work model, and merge it with its proof-of-stake chain. Following this, all transactions on Ethereum will be reached via a proof-of-stake consensus mechanism. The upgrade will make the Ethereum blockchain substantially more energy efficient.
“The Ethereum Merge is a monumental event in the history of Ether and we will be supporting the Merge, ensuring that our users have a seamless customer experience when it takes place,” said Paolo Ardoino, CTO at Bitfinex. “As we approach this event, customers can also take advantage of the Ethereum Chain Split Tokens we have made available on our platform, which enables the trading of ETHW and ETHS tokens, and position themselves for all eventualities in the run up to the Merge.”
Chain Split Tokens enable users to trade on the potential fork event in the Ethereum consensus protocol, that may result in ETH Proof of Work (PoW) and ETH Proof of Stake (PoS) tokens.
In order to protect Bitfinex users, all forked tokens will go through the same strict listing review process as Bitfinex does for all digital tokens. Bitfinex does not guarantee any listings as per our internal policy.
At the Merge a snapshot will be taken of all ETH balances and margin positions. To execute a smooth transition, deposits and withdrawals for ETH and all Ethereum-based (ERC20) tokens may be temporarily suspended for accounting and reconciliation purposes.
Bitfinex is one of the oldest and one of the most comprehensive platforms for digital token trading, offering a variety of services, including spot and margin trading, staking, borrowing and capital raising.Bitfinex’s cutting edge trading tools and unmatched customer support services are furthering blockchain-based financial freedom across the globe.
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