September 24, 2022

The miner again repeats his support for the Ethereum hard fork after the merger

Ethereum miner Chandler Guo reiterates his push for Ethereum to undergo a “hard fork” once it transforms into a proof-of-stake blockchain next month in a software update called Merge.

On Friday Guo said he has helped organize miners to support his effort as a way to avoid them having to “go out of business.”

Guo said “this time, the fork is much more difficult because I need to organize many people [miners] to join this fork.”

From an energetic point of view to maintain its network and validate transactions, Ethereum is efficiently stepping into one more proof-of-stake method from its current proof-of-work method around September 15-16 according to the developers.

In July, Guo tweeted: “I forked Ethereum once, I’ll do it again!” He has been pushing for a fork for several weeks.

Guo argues that miners must also be taken into account. The network is expected to reduce its power consumption by up to 99% after becoming a proof-of-stake platform.

He said “A lot of people [miners] are suffering.” Nonetheless, some miners may benefit from the merger, notably ethereum classic (ETC) miners, according to analysts at JPMorgan, with CoinDesk reporting on Thursday that the software update possibly will make more used mining rigs available.

He added that he plans to hold the native token of the forked proof-of-work blockchain, dubbed ETHW, until the next bull market, which he estimates will happen in the next 2 years. Guo, who supported the ethereum classic fork in the past. Posted by Cryptobtcbrowser, news and information agency

 

Leave a Reply

Your email address will not be published.