Chinese Miner Claims an Ethereum PoW Fork Is ‘Coming Soon,’ Despite ETC’s Existence

Ralph Smith

A proof-of-work (PoW) version of Ethereum is “coming soon” according to Chandler Guo, a prominent Chinese bitcoin miner. The news comes in the wake of growing discussion about the expected implementation of The Merge on Ethereum the week of September 19, delaying the long-awaited proof-of-stake (PoS) transition.

Chinese Miner Chandler Guo Says “Ethereum PoW” is Coming Soon

Chandler Guosaidthat a proof-of-work (PoW) version of Ethereum will appear “soon” ahead ofthe merge penciled in for the week of September 19. Guo is a known Chinese cryptocurrency minor and and last week hewrotethat he had forked once and would “fork again.” However, Guo’s statement contradicts the way Ethereum Classic (ETC) chain was officially deployed in the summer of 2016 when it was introduced to the world.

At that time, Guo threateneda 51% attack on. July 2016 approximately 98 gig ETCchain with a hash rate of hash. The following month, Guo told themasses that he had “made a mistake” and said, “This is not a joke. This is a revolution. God bless ethereum classic,” Guo added at the time. Despite how it turned out, Guo played a role of sorts during the; he played a role of sorts in the early days of the ETC.

Individuals reacted

to Guo’s tweet that a PoW version of Ethereum already exists in Ethereum Classic.

Most were puzzled by Guo’s commentary that a PoW version of Ethereum would be coming soon.” There isan ETCalready in the works. The real immutable Ethereum.” and one personrespondedto Guo, sharing aarticlethat Bitmain’s Antpool would supportthe ETC by injecting $10 million into the Ethereum Classic ecosystem.article, Guo also shared another tweet about PoW’s version of Ethereum, saying “ETHETH. PoW is DAO.”

In July 2016, Bitcoin.com Newsreportedthat loyal Ethereum (ETH) supporters were threatening to attack Ethereum Classic by 51%, and Chandler Guo said the same at the time A few days later, Guo tweeted: “It’s easy to attackETC. But it will surely affect innocentETCholders; it will surely affect ETCholders. My principle is not to be evil,” he said, backing away from the attack on theETC. 81} ETC

ETChas already received several PoW hash rates in recent weeks, as the chain hash rate is about26.07 terahash per second (TH/s) of hashpower. ETHhashpower continues to coast at1.01 petahash per second (PH/s) or about 1,000 TH/s.

ETChas support from various parts of the ecosystem, Grayscale launchedETCtrust in January 2017. Ethereum Classic has a much lower hash rate than the current Ethereum,and ETChas suffered 51% attacks in the past. In fact,the ETChas suffered multiple 51% attacks and faced delisting from multiple exchanges in January 2019 and August 2020.

In addition to Guo’s commentary, crypto hedge fund Galois Capital shared a study the same day that also discussed the possibility of an Ethereum chain split. At that time, Paolo Ardoino, Tether’s chief technology officer, explained that the company will support a PoS version of Ethereum following The Merge.

Image credits: Shutterstock, Pixabay, Wiki Commons

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