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What is Ethereum Fog?

The fork of ETH blockchain Ethereum Fog was implemented earlier than it was scheduled and Binance and KuCoin exchanges announced support for the fork.

According to Hype.Codes, Ethereum Fog is a fork of Ethereum Blockchain which was implemented on block 4,730,660, producing a new chain with the token ticker code “ETF” on December 14. Initially, the fork was scheduled to occur on January 1, 2018, but it was launched earlier than the planned date.

As it is stated on the website of Ethereum Fog, it uses the same consensus algorithm as the Ethereum, and aims to fix the problem of scalability, paving the way for a larger decentralized storage network, to create a decetrazlied world computing machine in the fog, and to build business partnerships for a large Fog ecosystem.

KuCoin exchange has announced its permanent support for all forked tokens and claimed that it has automatically taken a snapshot of all user ETH holdings and will issue ETF in a 1:1 ratio within 24 hours.

Moreover, Binance exchange has stated that the distribution of Ethereum Fog had been completed on December 17. Binance will announce the opening of withdrawals for ETF after the blockchain is deemed to be stable.

The price of Ethereum is now on the rise, showing the percentage of growth by 3% within past 24 hours and 57% within past 7 days. At the moment of writing ETH is worth $730,33 with the market capitalization of $70,4 billion.

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