Binance Starts Ethereum Proof-of-Work Mining Pool, Initially With No Fee

ETHW initially stumbled, but mining support from Binance customers could in theory help.

AccessTimeIconSep 29, 2022 at 3:31 p.m. UTC
Updated Oct 3, 2022 at 3:23 p.m. UTC

Nick Baker is CoinDesk's deputy editor-in-chief. He owns small amounts of BTC and ETH.

Cryptocurrency exchange Binance said customers can now join a mining pool for ETHW, the forked version of Ethereum that retains the blockchain's original proof-of-work (PoW) underpinnings.

Participants in the ETHW Pool will not be charged a fee during a promotional period that ends Oct. 29, according to a statement Thursday.

Two weeks ago, the Ethereum Merge successfully shifted the blockchain to a proof-of-stake system, eliminating the need for crypto miners on the network. A new, forked version of Ethereum still powered by PoW was created, though it got off to a rocky start. Support from customers of Binance, a giant in crypto trading, could in theory help sustain the forked version.

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Nick Baker is CoinDesk's deputy editor-in-chief. He owns small amounts of BTC and ETH.

CoinDesk - Unknown

Nick Baker is CoinDesk's deputy editor-in-chief. He owns small amounts of BTC and ETH.