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As the discussions associated to Ethereum PoW arduous fork flip right into a heated battle, ETC Cooperative sends an open letter to outstanding miner Chandler Guo, the mastermind of the Ethereum PoW arduous fork. ETC Cooperative, the group supporting Ethereum Classic (ETC) venture, strongly believes the “Ethereum PoW fork won’t work.”

ETC Cooperative Open Letter to ETHPoW Miner Chandler Guo

In an open letter to Chandler Guo, ETC Cooperative explains why they consider the Ethereum PoW arduous fork wouldn’t work. Also, forking Ethereum would be the hardest factor to do now.

“At the time of the ETH/ETC chain split, supporting ETC was the simplest thing in the world to do – just keep mining. Just keep running the same client software. It was a zero-effort thing to do. The hard coordination work was all on the pro-fork side.”

In order to fork Ethereum, Chandler Guo and his workforce have to fork Geth, Erigon, Besu, and Nethermind codebases. Thereafter, the workforce should take away the proof-of-stake (PoS) transition logic that Ethereum Foundation has up to date over time. Only then, Chandler Guo’s workforce will have the ability to disable the problem bomb and replace the Chain ID to supply replay safety.

Another arduous factor to do is persuade mining software program authors to make adjustments to their mining software program. Unlike the shopper code, many mining software program are closed-source, which restricts different builders to make adjustments.

Moreover, Chandler Guo and his workforce have to persuade pockets suppliers, exchanges, and different events to assist ETHW. Also, it’s vital to work with node operators to put in and run a brand new working shopper software program.

Coordinating all of those shall be arduous and time-consuming. ETC Cooperative claims finishing Ethererum PoW arduous fork on time is unattainable, even when Chandler Guo completes all required adjustments. The Merge is barely weeks away.

There is not any data on the web site ethereumpow.org, weblog posts, articles, tutorials, or different documentation associated to shopper and software program improvement. Open-source improvement is vital for any venture to ascertain belief.

Stablecoins (USDT, USDC, and so on.) will assist Ethereum (ETH) or else they are going to go to zero. Most DeFi tasks shall be damaged as every thing in DeFi is constructed round stablecoins. Also, NFTs wouldn’t be acknowledged or supported on the ETHPoW chain.

“At the time of the ETH/ETC split there was no Defi or custodial stablecoins, so nothing really broke. Now, most of the value on ETH is in the form of tokens, not just the native Ether. So the new chain will be pretty useless to existing ETH users.”

Dragonfly Research’s article explains why “Ethereum is now unforkable.”

Vitalik Buterin, Barry Silbert, AntPool Support Ethereum Classic

Ethereum co-founder Vitalik Buterin criticizes the EthereumPoW project, saying they’re “simply trying to make a quick buck.” He believes Ethereum miners can transfer to Ethereum Classic (ETC) post-Merge.

Barry Silbert, CEO of Digital Currency Group, guardian of Grayscale, Genesis Trading, and Foundry, encourages ETH miners to change to ETC. He can be one of many top supporters of the Ethereum Classic ecosystem.

Mining pool big AntPool and its CEO Leon Lyu just lately introduced $10 million to assist the Ethereum Classic ecosystem. Leon Lyu commits additional investments within the tasks.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his information about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency business for a considerable interval and is at the moment overlaying all the most recent updates and developments within the crypto business.

The offered content material might embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.