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Bitfinex supports upcoming Ethereum merge

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Bitfinex, a state-of-the-art digital token trading platform, will be supporting the Ethereum Merge enabling customers to enjoy a seamless transition as Ethereum undergoes its most significant software upgrade to date.

Bitfinex, a state-of-the-art digital token trading platform, will be supporting the Ethereum Merge enabling customers to enjoy a seamless transition as Ethereum undergoes its most significant software upgrade to date.

The Merge is one of the most important chapters in Ethereum’s history as it permanently changes the underlying consensus mechanism, which is used to secure the blockchain network.

When the Merge takes place it will take the current Ethereum blockchain, that operates on a proof-of-work model, and merge it with its proof-of-stake chain. Following this, all transactions on Ethereum will be reached via a proof-of-stake consensus mechanism. The upgrade will make the Ethereum blockchain substantially more energy efficient.

Chain Split Tokens enable users to trade on the potential fork event in the Ethereum consensus protocol, that may result in ETH Proof of Work (PoW) and ETH Proof of Stake (PoS) tokens. 

In order to protect Bitfinex users, all forked tokens will go through the same strict listing review process as Bitfinex does for all digital tokens. Bitfinex does not guarantee any listings as per our internal policy.

At the Merge a snapshot will be taken of all ETH balances and margin positions. To execute a smooth transition, deposits and withdrawals for ETH and all Ethereum-based (ERC20) tokens may be temporarily suspended for accounting andreconciliation purposes. 

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