Leading Korean crypto exchanges will support Ethereum 2.0 after update, Crypto-Upvotes expert review

Five of Korean largest crypto exchanges, united in DAXA alliance. Decided to support Merger of Ethereum and airdrop new tokens

DAXA alliance, which includes leading Korean cryptocurrency exchanges. Announced support for PoW version of Ethereum after blockchain update, decenter.kr reported. Platforms are considering listing and delisting the new asset, as well as its airdrop.

DAXA alliance, created in June this year, united 5 largest South Korean exchanges: Upbit, Gopax, Bithumb, Coineone and Korbit. So far, apart from a statement of support, no action has been taken. But our sources confirmed that the exchanges will try to avoid loss of assets by their customers.

Updating Ethereum blockchain will consist of two phases. The first will be an update called Bellatrix, which began on September 6. If it is successful, “Paris” update will be launched. As a result of this update, a split (hardfork) of network is possible. ETH could split into PoS-version (new) and PoW-version (old). If this happens, two Ethereum tokens will arise, for each version of their network.

Earlier, other crypto exchanges have already supported trading in such tokens. Poloniex and MEXC announced launching ETHS and ETHW trading. And BitMEX has launched a futures product based on ETHPoW tokens. Binance also announced that it will consider supporting new Ethereum tokens.

Currently, Ethereum network is facing a problem after a Bellatrix update. Blockchain has seen a noticeable spike in the “number of missed blocks” – the rate at which network does not process blocks of transactions assigned for verification. That rate has increased by about 1,700%. Before this update, this rate was about 0.5%. And after Bellatrix, it jumped to 9%.