Ethereum's proof-of-work fork does not significantly damage Ethereum

Ethereum’s proof-of-work fork does not significantly damage Ethereum 2023


Source: Adobe/Sergei Ok

Vitalik Buterin, the founder of Ethereum, says that another hard fork will not significantly harm Ethereum (ETH) and almost everyone in the Ethereum ecosystem who supports the merger.

His comments came after some miners, including prominent Chinese miner Chandler Guo, expressed their desire to fork Ethereum while transitioning to PoS.

“My sense from almost everyone I’ve talked to in the Ethereum ecosystem is that they’ve fully supported and rallied around proof of stake,” Buterin said.

Currently, the much-anticipated merger is expected to take place in September. Ethereum supporters are excited about this upgrade, which is expected to improve the network’s efficiency and reduce its environmental impact.

However, Ethereum miners whose earnings will be jeopardized after the upgrade are apparently not happy. The Ethereum mastermind claimed that those looking to fork are mostly “a few outsiders who basically have an exchange and most of them just want to make a quick buck.”

Buterin was also quoted as saying that if the PoW fork is successful, many decentralized applications will have to choose only one path, which could cause a lot of confusion and problems in the market, adding, “I hope whatever happens leads to Don’t lose people’s money.”

Some exchanges have already announced that they are using this Ethereum fork to increase their trading income.

Read more:

– Hayes apologizes for calling Ethereum a shitcoin

– MicroStrategy’s Michael Silver says stepping down as CEO will allow him to focus more on Bitcoin

– As millions of dollars are stolen, the price of SOL will decrease

– Dogecoin moves towards zero

– Analysts: BNB will grow moderately this year, may triple by 2025

– Finder experts predict that Ethereum will drop to $675


Leave a Reply

Scroll to top