{"id":13461,"date":"2022-08-08T20:49:28","date_gmt":"2022-08-08T20:49:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethereum-co-founder-vitalik-buterin-downplays-ethereum-pow-fork-hopes-it-doesnt-lead-to-people-losing-money-bitcoin-news\/"},"modified":"2022-08-08T20:49:28","modified_gmt":"2022-08-08T20:49:28","slug":"ethereum-co-founder-vitalik-buterin-downplays-ethereum-pow-fork-hopes-it-doesnt-lead-to-people-losing-money-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethereum-co-founder-vitalik-buterin-downplays-ethereum-pow-fork-hopes-it-doesnt-lead-to-people-losing-money-bitcoin-news\/","title":{"rendered":"Ethereum Co-Founder Vitalik Buterin Downplays Ethereum PoW Fork, Hopes It ‘Doesn’t Lead to People Losing Money’ \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Ethereum co-founder Vitalik Buterin recently discussed what he thinks about the recent Ethereum proof-of-work (PoW) fork topic that\u2019s 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 \u201ccouple of outsiders\u201d that \u201cmostly just want to make a quick buck.\u201d<\/strong><\/p>\n

Vitalik Buterin Gives His Opinion on the Proposed Ethereum PoW Fork Idea<\/h2>\n

A lot of people within the crypto community have been discussing a possible ETH<\/a> PoW fork (ETHW) that is unique from the existing Ethereum Classic blockchain. Bitcoin.com News reported<\/a> on the influential Chinese crypto miner Chandler Guo, who initiated the ETHW conversation after explaining that he participated in the birth of Ethereum Classic (ETC<\/a>). The idea then gained more traction<\/a>, as a website called ethereumpow.org<\/a> was published and a few exchanges decided to list the fork.<\/p>\n

Presently, the IOU tokens for ETHW are worth $138.69 per token<\/a>, according to coinmarketcap.com metrics and against Tron\u2019s USDD stablecoin, ETHW is exchanging hands for 142.27 USDD<\/a> on Poloniex. This weekend, co-founder of Ethereum Vitalik Buterin discussed<\/a> ETHW during a Q&A session at the ETH-Seoul conference<\/a>. Buterin downplayed the possibility of a fork of this kind seeing long-term acceptance. \u201cI\u2019m not expecting it to have substantial, long-term adoption,\u201d Buterin stressed.<\/p>\n

The Ethereum developer and co-founder also talked about Ethereum Classic (ETC<\/a>) and Buterin complimented the ETC<\/a> community. \u201cI think Ethereum Classic already has a superior community and a superior product for people kind of with those pro-proof-of-work values and preferences,\u201d Buterin stated. When Buterin was asked about the ETHW proposal, he explained that those involved with its creation are just a \u201ccouple of outsiders that basically have exchanges, and mostly just want to make a quick buck.\u201d Buterin added:<\/p>\n

\n

I hope that whatever happens, doesn\u2019t lead to people losing money.<\/p>\n<\/blockquote>\n

Digital Currency Group CEO Barry Silbert Discusses ETHW, Buterin Doesn\u2019t See Fork Harming Ethereum\u2019s Ecosystem<\/h2>\n

Buterin\u2019s commentary follows the statements the founder and CEO of Digital Currency Group (DCG), Barry Silbert, has made about the ETHW idea on Twitter. Silbert tweeted to the Galois Capital account on Twitter and said<\/a>: \u201c[For what it\u2019s worth], our full support is behind [Ethereum proof-of-stake], in addition to [Ethereum Classic], and have zero intention to support any [Ethereum proof-of-work] fork. [Ethereum] miners should move to [Ethereum Classic] to maximize their revenue long-term. Simple as that.\u201d<\/p>\n

Silbert has also made other statements on Twitter directly to some of Chandler Guo\u2019s threads, and Guo asks<\/a> Silbert in one tweet: \u201cwhy only [Ethereum Classic]?\u201d The DCG executive replied and said it is \u201cthe smart play for [ethereum] miners\u201d and he also mentioned<\/a> that Antpool is leading the initiative to support the Ethereum Classic chain. When someone told<\/a> Silbert to stop engaging with Guo, Silbert responded<\/a> and said: \u201cI like and respect Chandler. Just disagree with him on this strategy.\u201d<\/p>\n

Meanwhile, at this weekend\u2019s ETH-Seoul conference, Buterin detailed that he doesn\u2019t expect Ethereum (ETH<\/a>) to be deterred by the possibility of another fork. \u201cI don\u2019t expect Ethereum to really be significantly harmed by another fork,\u201d Buterin remarked. On Twitter, it\u2019s business as usual for Buterin, as the software developer tweeted about stealth addresses for ERC721 (non-fungible tokens) NFTs on Monday. \u201cA low-tech approach to add a significant amount of privacy to the NFT ecosystem,\u201d the Ethereum co-founder said<\/a>.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
Barry Silbert<\/a>, Buterin<\/a>, Buterin’s Opinion<\/a>, Chandler Guo<\/a>, Chandler Guo ETC<\/a>, Chandler Guo ETH<\/a>, Chandler Guo tweet<\/a>, DCG CEO<\/a>, ETC<\/a>, ETC fork<\/a>, ETH fork<\/a>, ETH-Seoul conference<\/a>, ETH-Seoul Q&A<\/a>, Ethereum Classic<\/a>, ethereum classic (ETC)<\/a>, Ethereum Classic Hashrate<\/a>, Ethereum PoW<\/a>, ETHW<\/a>, ETHW website<\/a>, Fork<\/a>, Listing ETHW<\/a>, Poloniex<\/a>, Poloniex Listing<\/a>, PoW version of Ethereum<\/a>, Vitalik Buterin<\/a><\/div>\n<\/div>\n

What do you think about Vitalik Buterin\u2019s opinion concerning the possible Ethereum PoW fork that has been discussed ahead of The Merge? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n