According to Chandler Guo, an influential Chinese bitcoin miner, a proof-of-work (PoW) version of Ethereum is “coming soon.” The news comes as The Merge is expected to be implemented on Ethereum during the week of September 19, and the growing discussions of delaying the highly anticipated proof-of-stake (PoS) transition.
Chinese Miner Chandler Guo Says ‘Ethereum PoW’ Is Coming Soon
Chandler Guo stated that an Ethereum proof-of-work (PoW) version will be “coming soon” ahead of The Merge that’s been penciled-in for the week of September 19. Guo is an established Chinese crypto miner. Last week, he wrote that he had forked once, and “will fork it again.” However, Guo’s statement is contradictory to how it officially played out in the summer of 2016, when the Ethereum Classic (ETC) chain was introduced to the world.
I am Chandler Guo, a 51% attack on Ethereum Classic (ETC) is coming with my 98G hashrate https://t.co/9VM6vPa8CS
— Chandler Guo (@ChandlerGuo) July 24, 2016
Guo was then present. threatenedIn July 2016, 51% attacked the ETC chain, with approximately 98 gigahashs of hashrate. The following month, Guo told the public that he was “made a mistake” and added: “This is not a joke. This is revolution. This is liberation. God bless ethereum classic,” Guo added at the time. Despite how it went down, Guo did play some kind of role during ETC’s early days.
Individuals Respond to Guo’s Tweet Saying a PoW Version of Ethereum Already Exists in Ethereum Classic
Most people were confused by Guo’s commentary that said a PoW version of Ethereum was coming soon. “There’s ETC already. The real immutable Ethereum,” one person responded to Guo while sharing an article that says Bitmain’s Antpool would support ETC by injecting $10 million into the Ethereum Classic ecosystem. Guo has been sharing other tweets about a PoW version of Ethereum and said “ETH PoW is DAO.”
ETC has already received some PoW hashrate during the last few weeks as the chain’s hashrate is around 26.07 terahash per second (TH/s) of hashpower. ETH’s hashpower is coasting along at 1.01 petahash per second (PH/s) or roughly 1,000 TH/s. ETH has seen a 52% increase against the U.S. Dollar in the past month. ETC, however, is up 134% against it.
ETH POW stands for ETC.
— OmniEdge – Free humanity 🌞🧡☘️🌋🔑⚡ (@CryptoHolon) July 31, 2022
ETC received support from many parts of the community and Grayscale established an ETC trust fund in January 2017. Ethereum Classic is much more hashrate-friendly than Ethereum, and ETC was subject to a 51% attack. ETC has suffered 51% attacks on several occasions. ETC also faced delisting from many exchanges in January 2019, and August 2020.
i fork ethereum once，i will fork it again！ https://t.co/3DdlZ3zMz9
— Chandler Guo (@ChandlerGuo) July 27, 2022
In addition to Guo’s commentary, the crypto hedge fund Galois Capital shared a survey on the same day that also discussed the possibility of an Ethereum chain split. Paolo Ardoino (chief technology officer for Tether) stated at that moment that his company would back the PoS version Ethereum following The Merge.
Do you agree with Chandler Guo’s talk about the Ethereum PoW Chain? Comment below to share your thoughts on the subject.
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