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Grayscale: Due to the complexity of DeFi and the proliferation of asset-backed tokens, ETHW forks will face major challenges.



Time:8/16/2022 12:28:40 PM

[Grayscale: Due to the complexity of DeFi and the proliferation of asset-backed tokens, ETHW forks will face major challenges] Jinse Finance reported that Grayscale Research discussed on its official website that Ethereum may transition to Proof of Stake, and will theoretically The proof-of-work ETHW chain is compared with ETC. Grayscale concluded that due to the complexity of DeFi and the proliferation of asset-backed tokens, the ETHW fork will face major challenges. While the chances of success are expected to be low, there has been some support for the PoW fork from miners and exchanges. So far, speculation on the ETHW token has led to a steady price drop of more than 50% since launch, while ETC’s price has risen by about 9%.

In addition to declining interest in ETHW tokens, major Ethereum protocols and players such as Tether and Circle have expressed support for ETH PoS as the canonical chain. That's an important sign of support, as the two firms are responsible for nearly $120 billion in deals. Tokens backed by on-chain assets. If the protocol finds that token holders do want to mutate the protocol on Ethereum's PoW variant, they will likely favor ETC over navigating the complexities of an on-chain ecosystem replicated on ETHW.

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