In accordance with Chandler Guo, an influential Chinese language bitcoin miner, a proof-of-work (PoW) model of Ethereum is “coming quickly.” The information comes as The Merge is predicted to be applied on Ethereum through the week of September 19, and the rising discussions of delaying the extremely anticipated proof-of-stake (PoS) transition.
Chinese language Miner Chandler Guo Says ‘Ethereum PoW’ Is Coming Quickly
Chandler Guo has acknowledged that an Ethereum proof-of-work (PoW) model will likely be “coming quickly” forward of The Merge that’s been penciled-in for the week of September 19. Guo is a identified Chinese language cryptocurrency miner and final week he wrote that he had forked as soon as, and “will fork it once more.” Nonetheless, Guo’s assertion is contradictory to the way it formally performed out in the summer time of 2016, when the Ethereum Traditional (ETC) chain was launched to the world.
I’m Chandler Guo, a 51% assault on Ethereum Traditional (ETC) is coming with my 98G hashrate https://t.co/9VM6vPa8CS
— Chandler Guo (@ChandlerGuo) July 24, 2016
At the moment, Guo threatened to 51% assault the ETC chain with roughly 98 gigahash of hashrate in July 2016. The next month, Guo instructed the general public that he was “made a mistake” and added: “This isn’t a joke. This can be a revolution. That is freedom. God bless ethereum traditional,” Guo added on the time. Regardless of the way it went down, Guo did play some sort of function throughout ETC’s early days.
People Reply to Guo’s Tweet Saying a PoW Model of Ethereum Already Exists in Ethereum Traditional
Most individuals had been confused by Guo’s commentary that stated a PoW model of Ethereum was coming quickly. “There’s ETC already. The actual immutable Ethereum,” one individual responded to Guo whereas sharing an article that claims Bitmain’s Antpool would help ETC by injecting $10 million into the Ethereum Traditional ecosystem. Guo has been sharing different tweets a couple of PoW model of Ethereum and stated “ETH PoW is DAO.”
In July 2016, Bitcoin.com Information reported on loyal Ethereum (ETH) supporters threatening to 51% assault Ethereum Traditional and Chandler Guo stated the identical factor on the time. Just a few days later, Guo tweeted: “It’s straightforward to assault ETC, however it’ll definitely have an effect on the harmless ETC holders. My precept is don’t be evil,” and he backed down from attacking ETC.
ETC has already obtained some PoW hashrate throughout the previous couple of weeks because the chain’s hashrate is round 26.07 terahash per second (TH/s) of hashpower. ETH’s hashpower is coasting alongside at 1.01 petahash per second (PH/s) or roughly 1,000 TH/s. ETH is up 52% towards the U.S. greenback over the last month and in the identical timeframe, ETC has gained 134% towards the greenback.
ETH POW is ETC.
— OmniEdge – Free humanity 🌞🧡☘️🌋🔑⚡ (@CryptoHolon) July 31, 2022
ETC has seen help from varied elements of the ecosystem and Grayscale launched an ETC belief in January 2017. Ethereum Traditional has a a lot decrease hashrate than Ethereum at the moment and ETC has suffered from a 51% assault in the previous. In actual fact, ETC has been 51% attacked on quite a few events and confronted delisting from a number of exchanges in January 2019 and August 2020.
i fork ethereum as soon as，i’ll fork it once more！ https://t.co/3DdlZ3zMz9
— Chandler Guo (@ChandlerGuo) July 27, 2022
Along with Guo’s commentary, the crypto hedge fund Galois Capital shared a survey on the identical day that additionally mentioned the potential for an Ethereum chain cut up. At the moment, Paolo Ardoino, chief expertise officer of Tether defined that his firm would help the PoS model of Ethereum following The Merge.
What do you consider Chandler Guo speaking about an Ethereum PoW chain? Tell us your ideas about this topic in the feedback part under.
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