Ethereum’s co-founder Vitalik Buterin on Saturday said the Ethereum transition from proof-of-work (PoW) to proof-of-stake (PoS) is unlikely to be affected by miners moving to Ethereum Classic.
Buterin reaffirms his support for the Ethereum Classic chain saying miners can continue mining Ethereum tokens after the Ethereum Merge. The price of ETC jumped over 6% as a result.
Vitalik Buterin Believes Miners Can Move to Ethereum Classic Post Merge
Ethereum co-founder Vitalik Buterin in a closed press conference during South Korea Blockchain Week said the Merge is unlikely to be impacted if miners mine tokens on the Ethereum Classic blockchain, reported Bloomberg on August 6.
The Merge will make miners obsolete, possibly impacting over 1 million people globally. Miners and users who believe in proof-of-work (PoW) can use the Classic blockchain. In fact, miners will most probably shift to Ethereum Classic (ETC) post-Merge, as their profits are already impacted after the crypto crash.
“I don’t expect Ethereum to really be significantly harmed by another fork. In general my impression from pretty much everyone I talk to in Ethereum ecosystem, they have been completely supportive of the proof-of-stake effort and the ecosystem has been quite united around it.”
