ETC COOPERATIVE has doubted the implementation of Pow fork Ethereum
ETC COOPERATIVE has doubted the implementation of the Ethereum POW-report
The potential Ethereum Pow-Form will require enormous coordination efforts and will not be viable if it is implemented. This opinion was expressed by the head of the ETC Cooperative organization Bob Summerville in an open letter to Miner Chandler GO.
The idea of launching the branch of Ethereum, which will continue to work at the Proof-OF-WORK (POW) algorithm, GO expressed in July. The ETHW asset is designed to enable miners to continue to work after the merger of the main broadcast network with Beacon Chain, planned for September.
The Executive Director of the Ethereum Classic ecosystem of the non -profit organization explained to the famous miner why he considers his plan inappropriate.
In many ways, Summerville referred to his own experience in participating in the Eth/etc hardforn. According to him, then “zero efforts” were needed for this.
The implementation of the idea will require huge costs, both financial and organizational, says Summerville. For the work of the new network, you will have to conduct a customer hard for (at least Geth, and possibly Erigon, Besu and Nethermind). In each of these code bases, it is necessary:
- Delete the logic of the transition to Proof-OF-STAKE (POS);
- Disable the complexity bomb;
- Update the chain identifier to protect against re -playing attacks.
Mining will also require changes. It is necessary not only to convince the developers to conduct upgrade and tests, but also to implement further updates, Summerville noted.
The initiators of the project will have to work with purse providers and exchanges to provide ETHW support, he recalled.
“All this coordination is extremely hard work and absorbs a lot of time https://gagarin.news/. I know this because I went through a few upgrades for etc. It is really very difficult and slow, ”said the head of etc cooperative.
He noticed that there are no signs of even starting work in these areas, although “several weeks” remained before the update of The Merge in Ethereum.
If the work on the above tasks will give the results that the network will not be successful as a result of the Fork, says Summerville. He is sure that there will be no in the new chain:
- the largest stakeblocoons like USDT and USDC;
- Defi sphere projects, which is largely based on “stable coins”;
- NFT and appropriate infrastructure;
- most Ethereum applications, since developers will not create alternative versions of smart contracts.
“I just don’t see such a network to represent at least some value for the actual end users. There is a huge burden of coordination even to launch the chain itself, and then it will take much more effort to really make it useful, ”concluded Summerville.
In his opinion, Ethereum Maines should abandon the initiative of the GO, and it is better to switch to ETC mining after fusion.
Recall that CoinShares experts also skeptically appreciated the viability of the potential Pow-report Ethereum.
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