MEXC Ethereum Token
A significant cryptocurrency exchange called MEXC announced the 1:1 conversion of Ethereum currencies into the branched tokens ETHS and ETHW. The improved Ethereum without PoW consensus will be represented by one of the tokens, while the PoW chain with the highest hash rate will be represented by the other token. The program was put in place to assist users in minimizing risks brought on by market turbulence when the hard fork occurs. Investors’ money will be invested in the safest alternative on the marketplace and classified by the mining power surrounding it, eliminating the volatility increase brought on by the diversity of forked Ethereum currencies.
Users noticing the pros and cons
Other platforms have also gotten up with the program and have begun providing migration tokens to users who choose to remain on the main chain or migrate their money to the coin’s PoW fork. Users have noted that many systems do not allow token withdrawals, which poses security concerns in the event that something turns out badly for whatever reason. Several individuals and miners are preparing to transfer their cash to other L1 choices with the PoW agreement accessible before the merger. As of right now, Ethereum Classic, which has already experienced a network power growth of about 50%, is the greatest beneficiary of Ethereum’s enormous hash rate.