Home Ethereum Poloniex Would List Both Ethereum Tokens… If Another Fork Surfaces

Poloniex Would List Both Ethereum Tokens… If Another Fork Surfaces

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Poloniex Would List Both Ethereum Tokens… If Another Fork Surfaces

Ethereum [ETH] and his upcoming network update “The Merge” seems to be a hot topic of discussion. While some continue to suggest this would be game-changing for the entire crypto ecosystem, a few others hoped for a delay. The ETH miners belonged to the latter. The merger is expected to take place in September and would move the network into Proof-of-Stake [PoS] further denying the need for minors. As this affects their livelihoods, some of them raised their concerns and took action.

Chandler Guo, a prominent Chinese crypto miner seems to be leading this rebellion. Guo took to Twitter last week and announced that he would be forking the Ethereum blockchain to “ETH POW”. This would further allow miners to continue mining after ‘Fusion.‘ While Guo seemed confident about the hard forkJustin Sun, the founder of the Tron network wanted to be the first on the ship.

In a recent tweet, his recently acquired exchange, Poloniex confirmed that it will list both ETHW and ETHS in the event of an Ethereum hard fork. With this, the exchange became the first to do so.

In addition to this, Sun revealed that if the hard fork proves successful, it will continue to donate the forked assets to the Ethereum community. He tweeted,

“We currently have over 1 million ETH. If the #Ethereum hard fork is successful, we will donate a forked #ETHW to the #ETHW community and developers to build the #ethereum ecosystem.

It should be noted that no major protocol on Ethereum has extended support yet.

Additionally, Justin Sun’s stablecoin USDD would have law as the very first stablecoin in the ETHW ecosystem.

What are the chances of an Ethereum hard fork?

On the one hand, Guo remains extremely optimistic about the occurrence of a hard fork.

It should be noted that Guo was involved in the 2016 Ethereum fork.

A recent Twitter poll by Galois Capital, on the other hand, suggests otherwise. More than half of the participants thought Ethereum would have a smooth transition to PoS.

However, 33.1% of the 4,277 voters were still inclined towards a hard fork. A majority of them pointed out that the existence of Ethereum Classic [ETC] an already forked proof of work [PoW] version of Ethereum would suffice. Therefore, ETHW would not attract as many users.

On top of that, the chances of traders selling ETHW or ETH1 were high. Therefore, the community speculates that the probability of the ETHW thriving or the hard fork happening was rather low.

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