BKEX’s Response to ETH hard fork
Because ETH has been running stably with POW as a consensus mechanism for many years, suddenly switching to POS may cause some problems:
At the weekend of last week, several well-known people in the currency circle began to promote the hard fork of ETH, including Justin Sun and Bao Erye. Combined with their previous style of doing things, it is not difficult to conclude that the fork is profitable for them, and they have a large number of mining machines or ETH, if the fork occurs, the miner can continue to use it in the ETH fork (the mining income is more likely to be higher than ETC); it will also get additional forked tokens equal to ETH, if the forked currency price is POS 10% of the ETH of the ETH, all realization is also equal to the direct appreciation of the assets by 10% (not considering the price of the hard fork). Although there are not many people who support the hard fork, considering the size and influence of the above two people, the hard fork The fork has also become a high probability event.
However, those who support hard forks are only for profit, not with a sense of mission. Hard forks will cause all on-chain data to exist on both ETH chains at the same time, including various ether-based tokens (including stablecoins). ), NFT and other assets, but in the end only one chain of assets will be recognized, but in this process, it is foreseeable that there will be some confusion, and the chaos will benefit the forked chain of POW (because POW has been running stably for many years), helping the mess-makers complete the harvest.
For investors, ETH and ETC are the lessons learned. If you get forked tokens, you can sell them directly. The real value of ETH is ecology and application. Continuing to maintain the POW chain will not become the mainstream of the market, nor will it naturally There is a high value prospect, which is about equal to air in the long run. If you get the forked currency, you can consider finding an exchange that opens the corresponding trading pair to realize and sell it as soon as possible (there is a contradiction here, we cannot predict the price of the forked currency, If it exceeds ETH by more than 50%, there is no doubt that it should be sold as soon as possible, but if the price is lower than ETC, it may rise first, and the transaction will be more active and the volatility will be larger, the specific situation is more difficult Judgment, but long-term value approximately equal to air is certain.
Another point to note: if ETH is deposited in the exchange, a hard fork has also occurred, but the fork token has not been obtained, are all risky behaviors for users, and in a bear market, extra attention should be paid to risks.
Please check BKEX official website or contact the customer support with regard to the latest information and more accurate details.
BKEX official website is here.
Please click "Introduction of BKEX", if you want to know the details and the company information of BKEX.
(Forex Broker)
Comment by Hans
April 24, 2024
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