Ethereum co-founder Vitalik Buterin recently discussed what he thinks about the recent Ethereum proof-of-work (PoW) fork topic that’s been finding its way into a number of conversations within the crypto community. Buterin remarked at the ETH-Seoul conference over the weekend, that he believes the people introducing the forked token concept are basically a “couple of outsiders” that “mostly just want to make a quick buck.”
Vitalik Buterin gives his opinion on the proposed Ethereum PoW fork idea
A lot of people in the crypto community are discussing a potential ETH PoW fork (ETHW) which is unique from the existing Ethereum Classic blockchain. Bitcoin.com News reported on influential Chinese crypto miner Chandler Guo, who started the ETHW conversation after explaining that he had participated in the birth of Ethereum Classic (ETC). The idea then gained more traction, as a website called ethereumpow.org was published and some exchanges decided to list the forks.
Presently, the IOU tokens for ETHW are worth $138.69 per token, according to coinmarketcap.com metrics and against Tron’s USDD stablecoin, ETHW is exchanging hands for 142.27 USDD on Poloniex. This weekend, co-founder of Ethereum Vitalik Buterin discussed ETHW during a Q&A session at the ETH-Seoul conference. Buterin downplayed the possibility of a fork of this kind seeing long-term acceptance. “I’m not expecting it to have substantial, long-term adoption,” Buterin stressed.
The Ethereum developer and co-founder also talked about Ethereum Classic (ETC) and Buterin commended the ETC community. “I think Ethereum Classic already has a better community and is a better product for people with pro-work values and preferences,” Buterin said. When Buterin was asked about the ETHW proposal, he explained that the people involved in its creation are just “a few outsiders who basically have exchanges, and mostly just want to make a quick buck.” Buterin added:
I hope that whatever happens, doesn’t lead to people losing money.
Digital Currency Group CEO Barry Silbert Discusses ETHW, Buterin Doesn’t See Fork Harming Ethereum’s Ecosystem
Buterin’s remarks follow statements by Digital Currency Group (DCG) founder and CEO, Barry Silbert, on Twitter regarding the ETHW idea. Silbert tweeted on the Galois Capital account on Twitter and Told,[For what it’s worth]Our full support is behind [Ethereum proof-of-stake]in addition to the following [Ethereum Classic]and have no intention of supporting anyone [Ethereum proof-of-work] fork. [Ethereum] miners must go [Ethereum Classic] To maximize your revenue in the long run. simple as that.”
Silbert has also made other statements on Twitter directly to some of Chandler Guo’s threads, and Guo asks Silbert in one tweet: “why only [Ethereum Classic]?” The DCG executive replied and said it is “the smart play for [ethereum] miners” and he also mentioned that Antpool is leading the initiative to support the Ethereum Classic chain. When someone told Silbert to stop engaging with Guo, Silbert responded and said: “I like and respect Chandler. Just disagree with him on this strategy.”
Meanwhile, at the ETH-Seoul conference later this week, Buterin elaborated that he does not expect Ethereum (ETH) to be disrupted by the prospect of another fork. “I don’t expect Ethereum to really suffer much from another fork,” Buterin said. On Twitter, it’s business as usual for Buterin, as the software developer tweeted Monday about a stealth address for ERC721 (fungible token) NFTs. Ethereum Co-Founder, “A Low-Tech Approach to Adding Significant Amounts of Privacy to the NFT Ecosystem” Told,
