Digital currency exchange Coinfloor, authorized by the U.K. Financial Conduct Authority, is delisting ether (ETH) on January 3.
Revealing the news on December 17, Coinfloor stated it would just concentrate on bitcoin (BTC) and financial services identified with the world’s digital currency, from 2020 onwards.
“No other cryptocurrency currently comes close to Bitcoin’s track record, industry support, or brand recognition, so focusing on Bitcoin made perfect sense,” said Coinfloor founder and CEO Obi Nwosu, adding that bitcoin is “inflation proof” digital currency and has the possibility to become the “best form of money.”
Established in 2013, Coinfloor is delisting ether allegedly as a result of the vague eventual fate of hard forks and technical support required for the world’s second-biggest digital currency. Ethereum intends to release version 2.0 of its platform in early 2020, which will start the method of transferring the network from the proof-of-work consensus mechanism to proof-of-stake.
Nwosu said Ethereum’s platform update “could take years to complete,” and the intricacy of the operation “means for a period of time there could be two versions of ethereum running.”
Coinfloor is also purportedly delisting bitcoin cash (BCH) and will concentrate on new services like lending in the coming year.