ETHPoW Team Claims That The Miner-Led Fork Of Ethereum Is Inevitable
In an open letter that was published today, the ETHPoW team said that the proof-of-work fork of Ethereum was “inevitable.”
A potential fork of Ethereum is called ETHPoW. It seeks to split out from the Ethereum core network and is led by a miner by the name of Chandler Guo. Guo asserts that the fork will permit miners to carry on with their work even after Ethereum switches to a proof-of-stake consensus during a process known as the merging. But it would lead to the creation of two blockchains, each running its own set of protocols and coins.
The development team was addressed in an open letter published by ETHPoW
ETC Cooperative had already written to Chandler Guo explaining why the ETHPoW fork would fail and advising miners to switch over to Ethereum Classic instead.
It was suggested in the announcement that not all of the current Ethereum miners will be able to use Ethereum Classic. As a result, it said that many PoW forks are necessary, not just one.
“The small pool of ETC cannot hold the entire computing power pool of ETH at all. This is a hard fact. In the face of such hard facts, this hard fork is inevitable,” the ETHPoW team said.
The project also provided insight into its planning. Among many other advancements, the team claimed to have removed the “difficulty bomb” function from its version of the Ethereum code.
Ethereum core developers created the difficulty bomb as a tool to make mining Ethereum blocks more challenging in order to stop miners from interfering with the merge. By doing away with this approach, ETHPoW hopes to make it easier for miners to create new blocks after its fork.
The ETHPoW team also gave information on further advancements. It claimed to be preparing an ETHPoW testnet where programmers may examine the fork code before it was released. The team enhanced protection against replay attacks, a form of network hack that can happen during blockchain forks, and modified the chain ID, a network identification used to connect to cryptocurrency wallets.
The letter stated that the split would be carried out by the ETHPoW in September, maybe concurrently with the merge.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Ethereum
ETHPoW Team Claims That The Miner-Led Fork Of Ethereum Is Inevitable
In an open letter that was published today, the ETHPoW team said that the proof-of-work fork of Ethereum was “inevitable.”
A potential fork of Ethereum is called ETHPoW. It seeks to split out from the Ethereum core network and is led by a miner by the name of Chandler Guo. Guo asserts that the fork will permit miners to carry on with their work even after Ethereum switches to a proof-of-stake consensus during a process known as the merging. But it would lead to the creation of two blockchains, each running its own set of protocols and coins.
The development team was addressed in an open letter published by ETHPoW
ETC Cooperative had already written to Chandler Guo explaining why the ETHPoW fork would fail and advising miners to switch over to Ethereum Classic instead.
It was suggested in the announcement that not all of the current Ethereum miners will be able to use Ethereum Classic. As a result, it said that many PoW forks are necessary, not just one.
“The small pool of ETC cannot hold the entire computing power pool of ETH at all. This is a hard fact. In the face of such hard facts, this hard fork is inevitable,” the ETHPoW team said.
The project also provided insight into its planning. Among many other advancements, the team claimed to have removed the “difficulty bomb” function from its version of the Ethereum code.
Ethereum core developers created the difficulty bomb as a tool to make mining Ethereum blocks more challenging in order to stop miners from interfering with the merge. By doing away with this approach, ETHPoW hopes to make it easier for miners to create new blocks after its fork.
The ETHPoW team also gave information on further advancements. It claimed to be preparing an ETHPoW testnet where programmers may examine the fork code before it was released. The team enhanced protection against replay attacks, a form of network hack that can happen during blockchain forks, and modified the chain ID, a network identification used to connect to cryptocurrency wallets.
The letter stated that the split would be carried out by the ETHPoW in September, maybe concurrently with the merge.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
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