Justin Sun China county Arthur county Hayes Ethereum Mining proof-of-work Poloniex Justin Sun China county Arthur county Hayes

Justin Sun, Poloniex Back Plan to Create a PoW Ethereum Hard Fork

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cryptonews.com

Ethereum (ETH) miners fearing the worst should the network’s much-vaunted move to proof-of-stake (PoS) go ahead next month could be thrown a lifeline – with Justin Sun and his Poloniex crypto trading platform stating that they will provide support for a proposed proof-of-work fork (PoW) fork.The Ethereum network currently uses a PoW protocol that allows miners to mint new tokens, but while moving to PoS might help ETH’s cause in some respects, it would leave miners on the network in a dark place.

Their rigs would become effectively worthless in the blink of an eye – unless they could be repurposed to mine on other networks.One solution to this problem has been put forward by the Chinese miner Chandler Guo, who has said he will fork the Ethereum network to create a PoW “version” of ETH.Indeed, Guo has been bullish on the matter in recent weeks, and has suggested that he wants to create a genuine rival to a PoS version of Ethereum.And Sun, the Founder of Tron (TRX), has suggested that he will back the move.

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