Vitalik Buterin: No place for the greedy in The Merge!

As the Ethereum Merge approaches, the world is in turmoil. While some do not hesitate to support the project, others speculate and even go so far as to associate other issues with it. This is notably the case of the famous Chinese miner Chandler Guo, the current promoter of the forked of the Pow of Ethereum. For Vitalik Buterin, the new “ETH POW” network will not be successful.

Buterin, The Merge and its resistants

If there are arguments much used by the no-coiners to denigrate bitcoin and others, environmental nuisance is one of them. Indeed, they keep peddling here and there that the decentralized consensus mechanism Proof-of-Work, very expensive to bitcoin, is a danger to the planet. Even our scholars in the European Union seem touched by the anti-PoW gospel.

This is where the visionary Vitalik Buterin decided not to sit idly by. As an ultimate solution, he announces The Merge, a plan that includes switching the Ethereum blockchain to the Proof-of-Stake. Thus, it was expected that the Ethereum Merger will take place next September.

Except that there is nothing heavenly about Merge in the eyes of miners like Chandler Guo. A completely normal reaction since the appearance of validators marks the end of miners. However, he is a minor, a pure and hard.

As an accompanying measure, he suggests a fork of the Ethereum network which will notably give rise to a derivative version of the ETHW network. And at the same time, there will be ETHS. Remember that Justin Sun recently announced that he will support both and list them on his crypto exchange Poloniex.

As for Guo’s ETHW proposal, it could take the form of a network and a cryptocurrency devoid of value and utility. Nevertheless, a representative from Bitmex Research believes that with a little patience and popular support, ETHW will see its value increase in the future. Decrypt made a long presentation on the subject 4 days ago.

You are also aware that Chandler Guo is not an unknown figure in the Ethereum community. Contribute to forked having given birth to Ethereum and Ethereum Classic, it still gives wings.

ETHW will experience a perinatal death

By “perinatal death”, we mean a death during gestation or just after birth. This is what Vitalik Buterin predicted on the sidelines of ETHSeoul from last Friday. According to the Ethereum co-founder:

  • ETHW will not have the chance to be adopted in the long term, so little chance of success;
  • it exists ” some foreigners who mainly have exchanges, and who especially want to make money quickly “: greed in all its form;
  • if that were to happen, provided that ” it does not cause people to lose money » ;
  • that he is at the head of a superior and strong community of a superior product which is made up of people of values ​​and supporting the Proof-of-Work.

Basically, Buterin didn’t miss any of the pro-ETH PoW messages, which don’t worry him much.

I don’t expect Ethereum to be really significantly damaged by another fork. My impression of almost everyone I’ve spoken to in the Ethereum ecosystem is that they’ve completely supported the Proof-of-stake effort and united around it. “, he added.

Behind him also lined up Daniel Hwang, protocol manager at Stakefish. This one confronts Guo by blowing:

It is damaging to further fracture and complicate the ecosystem. I find it alarming that some of us […] ignore the very clear weight that large infrastructure providers can have. »

To conclude

In short, change has never been unanimous. We already have that confirmed. If Vitalik Buterin and his acolytes do not approve (or disguise their disapproval with less aggressive words), it is because the switch to PoS represents several issues, says The Merge, both for Ethereum and for the crypto universe in his outfit. The idea of ​​an ETHW also has its bases, and Chandler Guo & co. have their reasons. How to accept a sudden turnaround when by remaining a cryptocurrency miner, there is so much to gain? A real dilemma.

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