Home Ethereum Ethereum Co-Founder Vitalik Buterin Downplays Importance of Ethereum PoW Fork, Hopes It “Won’t Make People Lose Money” CryptoBlog

Ethereum Co-Founder Vitalik Buterin Downplays Importance of Ethereum PoW Fork, Hopes It “Won’t Make People Lose Money” CryptoBlog

0
Ethereum Co-Founder Vitalik Buterin Downplays Importance of Ethereum PoW Fork, Hopes It “Won’t Make People Lose Money” CryptoBlog

Ethereum co-founder Vitalik Buterin recently discussed his thoughts on the recent Ethereum proof-of-work (PoW) fork topic that has made its way into a number of conversations within the community. crypto. Buterin remarked at the ETH-Seoul conference this weekend that he thinks the people introducing the forked token concept are basically a “couple of foreigners” who “mainly want to make some quick money.” .

Vitalik Buterin gives his opinion on the proposed Fork Ethereum PoW idea

Many people within the crypto community have discussed a possible ETH Fork PoW (ETHW) which is unique from the existing Ethereum Classic blockchain. News Bitcoin.com reported on influential Chinese crypto-miner Chandler Guo, who started the ETHW conversation after he explained that he was involved in the birth of Ethereum Classic (ETC). The idea then gained more tractionas a website called ethereumpow.org was released and a few exchanges decided to list the fork.

Currently, IOU tokens for ETHW are worth $138.69 per tokenas per coinmarketcap.com metrics and against Tron’s stablecoin USDD, ETHW trades hands for $142.27 on Poloniex. This weekend, Ethereum co-founder Vitalik Buterin discussed ETHW in a Q&A session at ETH-Seoul Conference. Buterin downplayed the possibility of such a fork being accepted in the long term. “I don’t expect it to be adopted in a substantial, long-term way,” Buterin stressed.

The Ethereum developer and co-founder also talked about Ethereum Classic (ETC) and Buterin complimented the ETC community. “I think Ethereum Classic already has a superior community and a superior product for people with sort of those proof-of-work values ​​and preferences,” Buterin said. When Buterin was asked about the ETHW proposal, he explained that the people involved in its creation are just “a few foreigners who basically have trades and mostly want to make a quick buck.” Buterin added:

I hope no matter what happens people don’t lose money.

Digital Currency Group CEO Barry Silbert Discusses ETHW, Buterin Doesn’t See Fork Harming Ethereum Ecosystem

Buterin’s comment follows statements that Digital Currency Group (DCG) founder and CEO Barry Silbert made about the ETHW idea on Twitter. Silvbert tweeted on the Galois Capital account on Twitter and said: “[For what it’s worth]our full support is behind [Ethereum proof-of-stake]in addition to [Ethereum Classic]and have no intention of supporting [Ethereum proof-of-work] fork. [Ethereum] miners should move to [Ethereum Classic] maximize their long-term income. As simple as that.”

Silbert also made other statements on Twitter directly to some of Chandler Guo’s threads, and Guo request Silbert in a tweet: “why only [Ethereum Classic]?” The DCG exec responded and said it was “the smart play for [ethereum] minors” and he also mentioned that Antpool is leading the initiative to support the Ethereum Classic chain. When someone Told Silbert will stop engaging with Guo, Silbert replied and said, “I love and respect Chandler. I just disagree with him on that strategy.

Meanwhile, at this weekend’s ETH-Seoul conference, Buterin clarified that he doesn’t expect Ethereum (ETH) only to be deterred by the possibility of another fork. “I don’t expect Ethereum to be really significantly damaged by another fork,” Buterin remarked. On Twitter, business is business as usual for Buterin, as the software developer tweeted on Monday about stealth addresses for ERC721 NFTs (non-fungible tokens). “A low-tech approach to adding a significant amount of privacy to the NFT ecosystem,” Ethereum co-founder said.

Keywords in this story

Barry Silvert, Buterine, Buterin’s opinion, Chandler Guo, Chandler Guo ETC, Chandler Guo ETH, Chandler Guo’s tweet, CEO of DCG, ETC, ETC fork, ETH fork, ETH-Seoul Conference, Q&A ETH-Seoul, Classic Ethereum, classic ethereum (ETC), Classic Ethereum Hashrate, Ethereum PoW, ETHW, ETHW website, Fork, ETHW listing, Poloniex, Poloniex Registration, PoW version of Ethereum, Vitalik Buterin

What do you think of Vitalik Buterin’s opinion regarding the possible Ethereum PoW fork that was discussed before The Merge? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Manager at Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,700 articles for Bitcoin.com News about disruptive protocols emerging today.




Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

LEAVE A REPLY

Please enter your comment!
Please enter your name here