Ethereum co-founder, Vitalik Buterin speaking at the ETHSeoul (August 5-7) provided light on the impact of hard forks on ETH after the merge event in September.
Vitalik said, “I don’t expect Ethereum to get substantially harmed by another fork.”
The Ethereum network decided to switch to proof-of-stake (PoS) in September month, an event known as Merge. After the merge, as per the developers, it will make the network faster, cheaper, and environmentally friendly.
Ethereum creator said, “allies of PoW mechanism infrastructure moved to ETH classic as it was earlier known that Ethereum would ultimately move to proof-of-stake while Ethereum Classic wouldn’t.”
Moreover, as the network changes from proof-of-work to proof-of-stake, it will reduce the income of Ethereum network miners, who are awarded ETH tokens.
Chandler Guo, a Chinese miner, has proposed a hard fork so even if ETH goes through the Merge and gets approved by the miners, stakers could keep on supporting a recently separated PoW variant of the chain.
The digital currency exchange, Sun Poloniex listed a new product of the ETH known as ETHW futures that permits the traders to take the bet on the prices of tokens, after the EthereumPoW consensus comes into existence. Apart from Poloniex, BitMex also lists the ETHW futures on its platform.
The Ethereum founder said, “A couple of outsiders basically have exchanges and mostly just want to make a quick buck.” “So, I’m not expecting it to have substantial, long-term adoption.”