BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Ethereum

Analyst: Ethereum (ETH) PoW Forks Will Be Useless

by Abimbola Adu
Aug 10, 2022 - 12:00 am
in Ethereum
Analyst: Ethereum (ETH) PoW Forks Will Be Useless

In preparation for the big day of the Ethereum (ETH) blockchain merging its mainnet with the beacon chain, Vitalik Buterin has proposed a PoW fork.

The reason he did this is that the merger will transition the network’s operation from a PoW to a PoS system.

It looks like any #ethereum proof of work fork will be supported by almost no one.

USDC, USDT, and Chainlink have all said NO!

Without them it is dead in the water.

Will just be miners mining and dumping… as useless as $ETC.

— Lark Davis (@TheCryptoLark) August 10, 2022

PoS has been argued to be susceptible to breaches in security, thus making some think this switch of operations is a bad idea.

Possibly all this contributed to Buterin wanting to kill two birds with a stone. 

But this singular act has caused a lot of controversy among crypto companies and analysts.

In fact, the organization behind Ethereum Classic (ETC) ETC cooperative urges them to let go of the PoW fork idea. 

In a letter they sent to Chandler Guo, the mega mind behind the Ethereum (ETH) PoW fork project, they stated that they strongly believe the project won’t work.

However key players like Chainlink, USDC, and USDT have all disagreed with Vitalik. 

Their lack of support has made it seem like a dead-end because no one may support the PoW fork in the end.

On the other hand, ETH miners want the PoW fork token before the much-anticipated merger scheduled for September 2022.

Looking at it from a positive angle the transitioning to Proof of Stake will prove to be a blessing for the network.

 It will improve sustainability, scalability, speed, decentralization, and transparency.

PoW consumes much computing energy compared to PoS; therefore, the switch will cut down Ethereum (ETH) blockchain energy consumption which is speculated to be equivalent to the energy consumed by Netherland.

Presently blockchain networks like Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot all make use of PoS operations and they seem to be doing fine.

However, as we know nothing good comes easy, and the transition will to an extent affect all smart contracts on the network.

Tags: EthereumPoSPoW
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

SharpLink Gaming logo with Ethereum symbol representing $1B crypto investment plan

SharpLink Gaming to Buy $1B in Ether, Embracing Ethereum Treasury Strategy

May 31, 2025

SharpLink Gaming eyes $1B ETH purchase after share offering, adopting Ethereum strategy that earned it the title “Ethereum’s...

Ethereum price retraces to $2.3K after strong rally as trading volume spikes

Ethereum Retraces to $2.3K After Strong Rally as Analysts Eye Renewed Upside

May 19, 2025

Ethereum retreats to $2.3K after surging to $2.7K. Despite pullback, analysts expect a new rally if key support...

A graphic showing Ethereum’s price volatility and decline in 2025

Ether Now Trades ‘Like a Memecoin,’ Says Two Prime as ETH Drops 45% in 2025

May 2, 2025

Two Prime drops Ethereum, says ETH is now “like a memecoin” as it falls 45% YTD. The firm...

A graphic showing Ethereum’s price volatility and decline in 2025

Ethereum Aims to Simplify Crosschain Transactions With New Token Standards

May 1, 2025

Ethereum targets smoother crosschain UX with ERC-7930 and ERC-7828, standardizing address formats for humans and machines across chains.

Press Releases

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

BTC

Popular Memecoin MEW Pledges $10,000 to Pasadena Humane Organization to Aid Animals Affected by California Wildfires

January 20, 2025

MEW memecoin donates $10K to Pasadena Humane for wildfire-affected animals. Join the mission to aid pets and wildlife in crisis...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise