The EthereumPoW (ETHPow) project announced the readiness of the codebase and the widespread support for the future fork of the Ethereum network from miners, hardware manufacturers and the crypto community.
Earlier, the ETC Cooperative project expressed the opinion that the ETHPow hard fork will not take place, since this is too non-trivial task. Therefore, miners and hardware manufacturers will be refocusing on the Ethereum Classic (ETC) network after the merger of the Ethereum mainnet in mid-September.
However, ETHPow thinks differently. The project participants, who oppose the merger of the Ethereum network, said that the transition of all miners to Ethereum Classic is impossible, since “a small pool of ETC cannot accommodate the computing power of ETH at all.”
ETHPow initiator and one of the biggest players in the Chinese mining ecosystem, Chandler Guo, revealed that his team has already disabled the difficulty bomb, updated the blockchain ID, and provided replay protection.
In addition, the community has created a business group to coordinate with crypto exchanges, wallet providers, and other third parties to support ETHPow.
“How will ETHPoS evolve over the next five years and will ETHPoS still exist? It’s all uncertain. We believe we should team up to back up the decentralized world of DeFi and NFT, compete against ETHPoS together, and leave the world another opportunity,” the ETHPow project said in an open letter.
Yesterday, cryptocurrency exchange Binance announced on its blog that it is ready to support the transition of Ethereum from the Proof-of-Work (PoW) algorithm to the Proof-of-Stake (PoS) algorithm. The platform will also support merge opponents who plan to continue to use PoW and fork the network.