Ethereum Miners Strike Back in Bid to Retain PoW Mining Community
In a bid to save the Ethereum mining community, a group known as the Ethereum Genesys Foundation (EGF) successfully hard forked the chain to continue Proof-of-Work (PoW) mining.
With the ETH 2.0 upgrade well underway, the switch to Proof-of-Stake (PoS) would render miners redundant. What’s more, miners claim they are slowly being phased out, even before ETH 2.0 is fully rolled out. Community splits are difficult at the best of times, more so how the original chain tends to fare better. With that in mind, is Ethereum Genesys doomed to fail?
Foundation has successfully executed a mining fork of Ethereum to save miners Khurram Shroff and Earl Ma, Maple Fork, Ethereum GeneSys Image Credit: Supplied
Dubai: On April 15, Ethereum GeneSys successfully executed a mining fork of Ethereum. This fork, which took place in Toronto, is an effort to save the global Ethereum mining community from the Blockchain network’s proposed ‘Quick Merge’. The Ethereum GeneSys Foundation has successfully initiated a ‘hard fork’, which aims to reclaim staked Ethereum 2.0 coins and allocate it to incentivize the Ethereum mining community to mine Ethereum GeneSys. This will give the Ethereum GeneSys Foundation control of the Ethereum open source protocol. The Proof-of-Stake on EthereumGeneSys Hybrid will be implemented on the Quick Merge proposed by Vitalik Buterin of Ethereum Foundation.
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DUBAI, UAE and TORONTO, April 20, 2021 /PRNewswire/ On April 15, 2021, Ethereum GeneSys successfully executed a mining fork of Ethereum. This fork, which took place in Toronto, is an effort to save the global Ethereum mining community from the Blockchain network s proposed Quick Merge . The Ethereum GeneSys Foundation has successfully initiated a hard fork , which aims to reclaim staked Ethereum 2.0 coins and allocate it to incentivize the Ethereum mining community to mine Ethereum GeneSys. This will give the Ethereum GeneSys Foundation control of the Ethereum open source protocol. The Proof-of-Stake on EthereumGeneSys Hybrid will be implemented on the Quick Merge proposed by Vitalik Buterin of Ethereum Foundation.
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