Oldest UK Crypto Exchange To Stop Trading Ethereum Due To Upcoming Ethereum 2.0 Updates

The Coinfloor exchange plans to exclude ETH from the list of trading instruments, citing the uncertainty of future Ethereum hard forks and difficulties with technical support for this cryptocurrency..

The first UK crypto exchange intends to divest from ether on January 3, 2020, shortly before the launch of the Ethereum 2.0 protocol. The upcoming platform update provides for the transition from a proof of work (PoW) algorithm to a proof of stake (PoS).

According to representatives of the exchange, such technical experiments of developers can drag on for years and regularly lead to network failures, which will become burdensome for retail traders..

Coinfloor CEO Obi Nwosu says that Ethereum’s frequent updates are forcing the exchange to constantly make changes to its platform, which brings more headaches than benefits. Adding that the rejection of the ether will allow they will focus on the bitcoin market, which is in much higher demand, and has performed much better this year.

In addition to ETH, Coinfloor also intends to end support for bitcoin cash.

Beyond the British Stock Exchange, criticizing development plans Ethereum previously also made a speech and the creator BitTorrent.

Oldest UK Crypto Exchange To Stop Trading Ethereum Due To Upcoming Ethereum 2.0 Updates

text: Ivan Malichenko, photo: Shutterstock

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