The creator of Ethereum, Vitalik Buterin, described those advocating for a hard fork of Ethereum to keep proof-of-stake as “just trying to make a quick buck” during a closed press briefing during South Korea Blockchain Week.
By adding two new tokens to his Poloniex exchange, Justin Sun has signaled support for a hard fork of Ethereum following the merger. The tokens’ names will be ETHS and ETHW, respectively, which stand for proof-of-stake and proof-of-work. After the integration of the Beacon chain, GPU miners will continue to mine Ethereum in ETHW, a newly generated hard fork of Ethereum. According to reports, some Chinese miners have agreed to join Justin Sun in this new chain.
Additionally, Sun wants to encourage a decision to fork Ethereum in order to preserve a particular version of the present network within a proof-of-work chain. Should the chain become a reality, he is offering up to 1 million ETHW to create a developer community.
Vitalik Buterin want to keep proof-of-stake
The majority of those who want to keep proof-of-stake are “outsiders” from the Ethereum environment, according to Vitalik, who said that he has only seen support for it from within the community.
According to several accounts, Justin Sun, the creator of the Tron blockchain, is clearly outside the Ethereum community. The hard fork proponents “own exchanges and are just trying to make a quick buck” Vitalik further stated.
Speaking on a question as to whether a hard fork could cause issues with NFTs living on both forked chains, Vitalik replied:
“I foresee market confusion if that proof-of-work hard fork becomes something substantial.”
However, Vitalik quickly put the onus on the proof-of-work chain instead of accepting that this could cause issues with what many will consider “mainnet.” Should a fork gain traction, Vitalik expressed:
“I’m sure there’s going to be problems… if they want to make a fork, it’s on them to mitigate those problems.”
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