Home News Business Japan-based BitFlyer would ‘pay close attention’ to any Ethereum Proof-of-Work hard fork

Japan-based BitFlyer would ‘pay close attention’ to any Ethereum Proof-of-Work hard fork

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Japan-based BitFlyer would ‘pay close attention’ to any Ethereum Proof-of-Work hard fork

News Tech: BitFlyer, a Japanese cryptocurrency exchange, has stated that it would “pay careful attention” to any hard forks that may occur as a result of Ethereum’s (ETH) shift from proof-of-work (PoW) to proof-of-stake (PoS), and that forked tokens that rely on PoW may be supported.

“We will closely monitor the value of ETHPoW tokens and client demands, and depending on the scenario, we may consider awarding and processing ETHPoW tokens in kind, or providing cash corresponding to their worth,” according to a rough translation of the Japanese blog post.

BitFlyer did not explicitly declare whether forked tokens will be supported in a blog post published on Monday, but did say it will evaluate it “depending on the scenario.”

The exchange also stated that any new tokens will require the permission of the Japanese Virtual Crypto Assets Exchange Association (JVCEA).

The Ethereum Merge – or switch from PoW to PoS – is scheduled on September 15.

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