Who would have thought that a crypto icon like Justin Sun would support the hard fork of the PoW of Ethereum. If the Merge is successful, it will donate ETH to the developers behind the stove. And it is not eponymous corners that are missing in the crypto wallet of its Poloniex stock exchange.
Sun, a ray of sunshine for The Merge?
On August 4, Justin Sun posted a message on Twitter reflecting his unwavering support for The Merge.
” We currently have over a million #ETH. If the Ethereum hard fork is successful, we will donate a portion of #ETHW to the #ETHW community and developers to build the Ethereum ecosystem. »
” The Ethereum merger is expected to take place in September 2022. Poloniex was the first exchange in the world to list #ETH and now the first to support the potential forking of ETH with the listing of two potential forked ETH tokens: #ETHS and # ETHW. »
So, if the Merge date will no longer be postponed, bear run requires, the month of September will see its realization.
Justin Sun’s announcement puts some wind in the sails of the Ethereum Fusion project. Not only does he promise substantial financial support for this hard forkbut will also ensure that the two tokens that will be derived from it (ETHS and ETHW) integrate the Poloniex crypto exchange.
Thus, all ETH holders on Poloniex “ will receive the forked assets at a 1:1 ratio when the upgrade is complete “.
Also note the existence of a celebrity supporting the Ethereum Merge: miner Chandler Guo. The latter, who has already contributed to the fork of the same blockchain in 2016, does not think he will sit idly by this time.
” I forked Ethereum once, will do it again and again! »
What about the reactions of the ETH community?
According to Guo, Ethereum’s switch from PoW to PoS will benefit miners, as it will transform ” the miner’s income as wager income. »
And you are not unaware that the Merge will put an end to the roles of minors. Knowing that block validators will use existing ETH to create new ETH and also generate stacking rewards afterwards.
But long before the announcement of an undetailed financial envelope from Sun, an ETH community by the name of EThereumPoW has already organized a donation drive for the Fusion.
Temporary report :
” We have received 83 donations since then. We also got free servers, AWS credits, and volunteer engineers and designers from the community. And we are very happy to have you all! »
Specifically, on August 5, the address raised $1,800: $1,400 in ether and $400 in tether.
Also we will note the existence of a divergence of ideas concerning the Merge of Ethereum. If Sun and Guo are expecting its arrival for the month of September, George Harrap of Step Finance believes that there has already been a fork of the Ethereum PoW.
” There is already a PoW version of Ethereum, (and) it is called Ethereum Classic (ETC). »
To say that this token is currently benefiting from communication operations around The Merge.
Even the founder of Ethereum Push Notification Service (EPNS), Harsh Rajat, has his own ideas on the subject:
” The brilliance of decentralization is that ultimately anyone who believes things can be done differently can do those things differently. I am of course all in favor of merging ETH and the main Ethereum PoS chain, but open source means that people who want to do things differently can do so without any issues of technical restrictions, just depending on the number of people supporting them. »
Conclusion
In any case, this bifurcation towards the PoS marks the will of Vitalik Buterin and his team to innovate in the crypto universe. Ecological, technological, economic gains… will come in particular after the Merge of Ethereum. Who knows if this move will help projects stay strong against the threat of crypto winter.
Sources: Coindesk ; Poloniex ; Crypto Slate
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