Sunday, November 27, 2022
 

Coinbase Will Evaluate Forked ETH Tokens After The Merge

  • Coinbase will evaluate any potential forked ETH tokens.
  • The exchange’s mission is to list any asset that is legal and safe.
  • Vitalik Buterin says his major concern about the Merge is potential scam attempts.

In a recent blog post, Coinbase shared that it has made a commitment to “evaluate” any Ethereum forks tokens that may occur after the Merge. This reopens the door for Coinbase to offer competing tokens that could emerge as a result of the popular blockchain’s forthcoming technological update.

Additionally, the post states that Coinbase’s mission is to list any asset that is both lawful to list and safe to list. This will allow them to provide a fair playing field for all of the new assets that are being developed in the cryptocurrency space while simultaneously continuing to safeguard their users.

The exchange stated:

Should an ETH PoW fork arise following The Merge, this asset will be reviewed with the same rigor as any other asset that is listed on our exchange.

Moreover, Coinbase has warned its users to be wary of potential frauds that may arise during this period. “It’s important to always be on high alert for scams, but especially leading up to the Merge. We recommend you don’t send your ETH to anyone in an attempt to ‘upgrade to ETH2’ as there is no ETH2 token… [N]o action is required to upgrade on your part.”

Vitalik Buterin, one of Ethereum’s co-founders, has said that his major fear over the Merge relates to scams that would target ordinary investors during the transition phase of the Merge. It can be expected that potential forked chains with names similar to Ethereum might be misleading for customers if it is unclear whether or not such chains are connected to the original Ethereum.

  • Coinbase will evaluate any potential forked ETH tokens.
  • The exchange’s mission is to list any asset that is legal and safe.
  • Vitalik Buterin says his major concern about the Merge is potential scam attempts.

In a recent blog post, Coinbase shared that it has made a commitment to “evaluate” any Ethereum forks tokens that may occur after the Merge. This reopens the door for Coinbase to offer competing tokens that could emerge as a result of the popular blockchain’s forthcoming technological update.

Additionally, the post states that Coinbase’s mission is to list any asset that is both lawful to list and safe to list. This will allow them to provide a fair playing field for all of the new assets that are being developed in the cryptocurrency space while simultaneously continuing to safeguard their users.

The exchange stated:

Should an ETH PoW fork arise following The Merge, this asset will be reviewed with the same rigor as any other asset that is listed on our exchange.

Moreover, Coinbase has warned its users to be wary of potential frauds that may arise during this period. “It’s important to always be on high alert for scams, but especially leading up to the Merge. We recommend you don’t send your ETH to anyone in an attempt to ‘upgrade to ETH2’ as there is no ETH2 token… [N]o action is required to upgrade on your part.”

Vitalik Buterin, one of Ethereum’s co-founders, has said that his major fear over the Merge relates to scams that would target ordinary investors during the transition phase of the Merge. It can be expected that potential forked chains with names similar to Ethereum might be misleading for customers if it is unclear whether or not such chains are connected to the original Ethereum.

 

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