Vitalik Buterin calls Ethereum (ETH) fork defenders opportunistic
Following the recent hostile remarks made by certain ecosystem figures regarding The Merge, Vitalik spoke out about it and didn’t hesitate to label them as opportunists. According to him, the Ethereum (ETH) community is very supportive of the Proof-of-Stake (PoS) transition and has no desire to fork to maintain Proof-of-Work (PoW).
Vitalik Buterin talks about Ethereum fork defenders
During the long-awaited update The Fusionthat plans to move the Ethereum (ETH) blockchain from Proof-of-Work (PoW) consensus to Proof-of-Stake (PoS) coming very soon, some have decided to go against the grain and have done it shown in favor of a fork.
Vitalik ButerinCo-founder of Ethereum, who needs no introduction, spoke about it during a closed-door press conference South Korea Blockchain Weekwhich is currently running until August 14th in the heart of Seoul.
According to him, the Ethereum community has done this overwhelming majority supported for the future Ethereum roadmap, including The Merge of course. In this sense, he clarified that the idea of a possible fork of the blockchain is only defended by “ strangers ” of this ecosystem that ” own exchanges and just trying to make a quick buck “.
Normally amicable, Vitalik Buterin was careful not to mention a name, but his comments are definitely targeting Justin Sunthe founder of Tron (TRX) who emerged recently in favor of the fork to maintain the proof-of-work consensus that the mining system relies on.
Vitalik answers the question about the risks of a possible success of the fork it could harm Ethereum and generate disturbances:
“I foresee confusion in the marketplace if this proof-of-work hard fork becomes anything significant. […] I’m sure there will be issues… if they want to fork, it’s up to them to mitigate those issues. »
👉 To understand everything: what is a fork?
The #1 Stock Exchange in the World – Regulated in France
binance
-10% discount on fees with code SVULQ98B 🔥
Why defend proof of work?
The first defenders of a fork aimed at maintaining proof-of-work are the minors. Their business model has relied on block mining within the Ethereum blockchain for years, and the shift to proof-of-stake is on the horizon simple end of their activity especially with the difficulty bomb planned for October.
FYI Ether miners have produced for $620 million for the month of July alone. In doing so, she has particularly encouraged Chinese miners to do so Proponents of the hard fork to maintain their financial activity, the latter having invested significant sums in theirs mining equipment.
In addition, as we have already said, Justin Sun was very supportive of the fork, without explicitly explaining his motives. However, the exchange Poloniexwhose main investor is Sun already offers trading pairs including theETHS and ETHW2 tokens that are only useful when the fork sees the light of day.
An organization was formed under the nameEthereumPoW to encourage forking, particularly through a fundraiser” intended exclusively for the development of products “.
According to Etherscan, the wallet has collected the so farEquivalent to $3,700evidence for a more than moderate support.
👉 In the news Ethereum: The number of registrations for the Ethereum Name Service (ENS) has never been higher
published by Editions Larousse
Sources: Fortune, The Block, Etherscan
Newsletters 🍞
Receive crypto news roundup every Sunday 👌 And that’s it.
What you need to know about affiliate links. Assets, products or services related to investments are presented on this page. Some links in this article are affiliated. This means if you buy a product through this article or register on a site, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investing in cryptocurrencies is risky. Cryptoast is not responsible for the quality of any product or service presented on this site and cannot be held responsible, directly or indirectly, for any damage or loss resulting from the use of any good or service highlighted in this article. Investing in crypto assets is inherently risky, readers should do their own research before taking any action and only invest within their financial means. This article does not constitute investment advice.
Passionate about the world of decentralized finance and the innovations that Web 3.0 brings, I write articles for Cryptoast to make blockchain more accessible for everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilian Prue
314 items
