Monday 08 August, 2022 ▪ 12:00 in ▪
6
min read – with
Who would have thought that a crypto icon like Justin Sun would support the hard fork of PoW Ethereum. If the Merge is successful, it will give ETH to the developers behind the stove. And eponymous corners are not missing in the encrypted wallet of its Poloniex stock exchange.
Sun, ray of sunshine for The Merge?
On August 4th, Justin Sun posted a message on Twitter showing his unwavering support for The Merge.
” We currently have over a million #ETH. If the Ethereum hard fork is successful, we will give a portion of #ETHW to the #ETHW community and developers to build the Ethereum ecosystem. »
” The Ethereum merger is expected to happen in September 2022. Poloniex was the first exchange in the world to list #ETH and now the first to support the possible forking of ETH with the listing of two possible ETH forked tokens: #ETHS and #ETHW . »
Therefore, unless the Merger date is further postponed, bear run Demands, 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 it will also ensure that the two tokens derived from it (ETHS and ETHW) will integrate with the Poloniex crypto exchange.
Therefore, all ETH holders on Poloniex “ they will get the forked assets at a 1:1 ratio when the upgrade is complete “.
Also note that a famous person is supporting the Ethereum Merge: miner Chandler Guo. The latter, who already contributed to the fork of the same blockchain in 2016, does not think that he will sit idle for now.
” I forked Ethereum once, will do it again and again! »
What about the reactions of the ETH community?
According to Guo, Ethereum’s transition from PoW to PoS will benefit miners, as it will change ” the miner’s income as wager income. »
And you don’t know that the Merger will eliminate the roles of the minors. Knowing that block validators will use existing ETH to create new ETH and subsequently generate stack rewards.
But long before Sun’s non-detailed financial coverage was announced, an ETH community called EThereumPoW had already organized a donation drive for the Fusion.
Provisional report :
” We have since received 83 donations. 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, as of August 5, the address raised $1,800: $1,400 in ether and $400 in string.
We will also note that there are a variety of ideas regarding the Ethereum Merger. If Sun and Guo expect it to arrive during September, George Harrap of Step Finance believes that there is already a fork of the Ethereum PoW.
” There is already a PoW version of Ethereum, (and) it’s called Ethereum Classic (ETC). »
To say that this sign is currently benefiting from communication operations around The Merge.
Even the founder of Ethereum Push Notification Service (EPNS), Harsh Rajat, has his own thoughts on the matter:
” The brilliance of decentralization is that anyone who believes that things can be done differently can do those things differently. Of course, I’m all in favor of merging ETH and the Ethereum PoS main chain, but open source means that people who want to do things differently can do so without any technical restriction issues, depending on the number of people who supports 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 especially after the Ethereum Merger. Who knows if this move will help projects stay strong against the threat of crypto winter.
Sources: Coindesk; Poloniex; Crypto currency
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Mikaia ANDRIAMAHAZOARIMANANA
The blockchain and crypto revolution is underway! And the day the effects are felt on the most fragile economy in this world, against all hope, I will say that I was involved.
