According to Chandler Guo, an influential Chinese bitcoin miner, a proof-of-work (PoW) version of Ethereum is “coming soon.” The news comes as The Merge is expected to be implemented on Ethereum during the week of September 19, and growing talk of delaying the highly anticipated Proof of Stake (PoS) transition.
Chinese miner Chandler Guo says ‘Ethereum PoW’ is coming soon
Chandler Guo declared that an Ethereum proof-of-work (PoW) version will be “coming soon” before Fusion it was in pencil for the week of September 19. Guo is a well-known Chinese cryptocurrency miner and last week he wrote that it had forked once, and “will fork it again”. However, Guo’s statement is at odds with how it officially unfolded in the summer of 2016, when the Ethereum Classic (ETC) the string was introduced in the world.
I am Chandler Guo, 51% attack on Ethereum Classic (ETC) comes with my 98G hashrate https://t.co/9VM6vPa8CS
— ChandlerGuo (@ChandlerGuo) July 24, 2016
At that time, Guo threatens at 51% attack the ETC chain with approximately 98 gigahash of hashrate in July 2016. The following month, Guo Told to the audience that he had “made a mistake” and added, “It’s not a joke. It’s a revolution. It’s freedom. God bless Ethereum Classic,” Guo added to the post. time. Despite the way it turned out, Guo played a certain role during ETCthese are the early days.
Individuals respond to Guo’s tweet saying a PoW version of Ethereum already exists in Ethereum Classic
Most people were confused by Guo’s comment that a PoW version of Ethereum was coming soon. “There are ETC already. The real immutable Ethereum”, a person replied to Guo while sharing a article which says Bitmain’s Antpool would support ETC by injecting $10 million into the Ethereum Classic ecosystem. Guo shared other tweets about a PoW version of Ethereum and said “ETH PoW is DAO.
ETC has already received a PoW hashrate in the past few weeks as the hashrate of the chain is around 26.07 terahash per second (TH/s) of hash power. ETHthe hashing power of 1.01 petahash per second (PH/s) or about 1000 TH/s. ETH is up 52% against the US dollar in the last month and in the same time frame, ETC gained 134% against the dollar.
— OmniEdge – Free Humanity 🌞🧡☘️🌋🔑⚡ (@CryptoHolon) July 31, 2022
ETC saw support from various parts of the ecosystem and Grayscale launched a ETC trust in January 2017. Ethereum Classic has a much lower hashrate than Ethereum today and ETC suffered from 51% attack in the past. In reality, ETC has been 51% attacked numerous times and delisted from multiple exchanges in January 2019 and August 2020.
I fork Ethereum once, I will fork it again！ https://t.co/3DdlZ3zMz9
— ChandlerGuo (@ChandlerGuo) July 27, 2022
In addition to Guo’s comment, crypto hedge fund Galois Capital shared a poll on the same day, which also discussed the possibility of a split from the Ethereum chain. At that time, Paolo Ardoino, CTO of Tether, explained that his company would support the PoS version of Ethereum after The Merge.
What do you think of Chandler Guo talking about an Ethereum PoW chain? Let us know your thoughts on this in the comments section below.
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