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ETHPoW team: Ethereum fork led by miners is "inevitable"



Time:8/12/2022 12:21:53 PM

[ETHPoW Team: Miner-led Ethereum fork is "inevitable"] Jinse Finance reported that the team behind ETHPoW published an open letter today, claiming that its Ethereum proof-of-work fork is "inevitable" . ETHPoW is a planned fork of Ethereum. It is led by a miner named Chandler Guo and aims to break away from the main Ethereum network. Guo claimed that the fork would allow miners to continue their mining operations after ethereum transitioned to proof-of-stake consensus during the so-called merger. But this results in two blockchains, each with its own version of the protocol and tokens that run on-chain.

ETHPoW published an open letter to ETC Cooperative, the development team behind Ethereum Classic. This is in response to a previous letter from ETC Cooperative to Chandler Guo discussing why the ETHPoW fork will not succeed and that miners should simply migrate to Ethereum Classic

In its statement, it argued that Ethereum Classic would not accommodate all existing Ethereum miners. So it claims not one but multiple PoW forks are required. The small pool of ETC simply cannot accommodate the entire computing power pool of ETH. This is a hard truth. Faced with such solid facts, this hard fork is inevitable.

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