Pushback From Crypto Miners Indicates Ethereum Offshoots - Aliens: AI Crypto News & Markets Updates
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Pushback From Crypto Miners Indicates Ethereum Offshoots

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Aliens

Sat, Aug 06, 2022

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A monkey wrench is about to be thrown into the already complicated transition that the Ethereum blockchain has to go through soon. Some factions are planning to fork the blockchain and continue to run the old version of Ethereum using miners.

Forks have been a mainstay of the cryptocurrency world since the debut of Bitcoin more than a decade ago. However, analysts say that newly forked chains often lack support from app developers, promoters, and users.

At the Bidl Asia 2022 conference in Seoul, South Korea, this week, Ethereum co-founder Vitalik Buterin dismissed forking efforts as adding little value, saying they provide hardly any differentiation from existing blockchains. Still, Guo said he has a team of 60 developers working on a fork.

Flexpool helps small miners to support Ethereum, and Chris Kyle notes that a successful fork would likely need someone famous behind it.

Many companies will likely wait and see whether to support the Ethereum Classic fork. Taylor Monahan, now global product lead at MetaMask, said the firm would support another forked token if it made money.

Source: BNN Bloomberg

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