As Ethereum takes its final steps toward the merge—the network’s much-hyped move to proof of stake—an influential crypto miner is looking to create a movement to resist that transition.
Chandler Guo, a well-known Chinese crypto miner, has launched a campaign to fork the Ethereum blockchain and create a spinoff, proof-of-work version, according to a Twitter post last week.
In Ethereum’s current proof-of-work model, so-called “miners” can generate ETH by directing huge amounts of computer power at difficult-to-solve puzzles.
The merge will end that practice, replacing it with a proof-of-stake system in which new ETH is created by pledging, or staking, large quantities of pre-existing ETH. Proof of stake is anticipated to make Ethereum a 99% more environmentally friendly network.
But the transition also will end the practice of Ethereum mining, leaving ETH miners stranded with costly and now potentially useless specialized hardware.
For that reason, Guo is attempting to, come the...
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