Crypto Biz Daily
  • Home
  • Cryptocurrency
  • Altcoin
  • Bitcoin news
  • Ethereum
  • Blockchain
  • Home
  • Cryptocurrency
  • Altcoin
  • Bitcoin news
  • Ethereum
  • Blockchain
No Result
View All Result
Crypto Biz Daily
No Result
View All Result

Ethereum Hard Fork Instigator Chandler Guo Claims the Value of ETH and Forked ETHW Will Be the Same in 10 Years – Interview Bitcoin News

Ethereum Hard Fork Instigator Chandler Guo Claims the Value of ETH and Forked ETHW Will Be the Same in 10 Years – Interview Bitcoin News
Share on FacebookShare on Twitter

The U.S. greenback worth of the not too long ago airdropped coin native to the forked Ethereum proof-of-work (PoW) blockchain might be at par with that of ether, Chandler Guo, the instigator of the most recent Ethereum laborious fork, has mentioned. Guo added that he expects the worth of the token, which is presently “very low cost,” to develop by 100x in ten years’ time.

Surging ETHW Commerce Volumes

In accordance with Chandler Guo, the self-appointed organizer of the latest Ethereum laborious fork, Ether (ETH) and the not too long ago airdropped, proof-of-work ETHW may have the identical USD worth in ten years. Guo argued that the brand new token, which presently trades at only a fraction of its September 15 excessive, nonetheless has the potential to develop by 100x.

In an interview with Bitcoin.com Information, Guo claimed that the present worth of the forked coin is “very low cost,” therefore the scope for it to develop by 100x exists. Guo, a former bitcoin and ethereum miner, nonetheless concedes that the forked blockchain has loads of catching as much as do earlier than this hundred-fold development is achieved. He defined:

At the moment, ETH worth is excessive as a result of there are various builders and over 200 completely different initiatives operating on prime of the Ethereum PoS [proof-of-stake] blockchain. Alternatively, there are lower than 10 initiatives on the ETHW.

Nonetheless, to show that the work geared toward making certain the forked chain ultimately matches the PoS chain has began, Guo revealed that in simply 4 days following the merge, “the ETH proof-of-work chain already has two DEXs [decentralized exchanges], two bridges, and two NFT [non-fungible token] exchanges already launched.”

He added: “Issues are occurring step-by-step and after one 12 months I believe there might be over 100 initiatives operating on prime of the PoW chain.”

Moreover the launch of exchanges and bridges on the brand new chain, the protocol’s every day commerce quantity has been rising since The Merge. Whereas the info from Coinmarketcap on September 21, 2022, means that the ETHW’s every day traded quantity was simply above $100 million, Guo nonetheless insists that the precise quantity is nearer to $1 billion.

“[Already] the buying and selling quantity of ETHW is big. In the present day it’s virtually a billion {dollars}. [As of today] ETHW [is] supported by greater than 20 mining swimming pools, and 2000 miners from world wide. Greater than 30 exchanges have listed ETHW,” claimed the previous miner.

Slightly below a month earlier than The Merge, Bitcoin.com Information reported {that a} workforce led by Guo had confirmed that one other Ethereum chain cut up was coming. Nevertheless, as quickly because the migration to PoS was concluded, two different chains emerged: the ETHW blockchain and Ethereumfair (ETF).

Deserted Power

Commenting on the opposite coin’s prospects, Guo, who gained prominence after he performed a component within the Ethereum blockchain’s 2016 laborious fork, mentioned:

I do know one other workforce has forked ETH however no one is mining there, no one is itemizing their token. Only some exchanges and mining swimming pools. It [the success of a fork] all will depend on who forked the ETH. I didn’t fork this in order that I may benefit from this. However others fork for their very own good or profit. That’s why they get wealthy from that — I don’t [do] that.

In the meantime, previous to the Ethereum blockchain’s swap from a PoW to a PoS consensus mechanism, it was broadly reported this might outcome within the protocol’s use of power dropping by greater than 99%. As anticipated, local weather change advocates have applauded the September 15 Merge, which some miners now worry will embolden opponents of the PoW consensus mechanism.

When requested to answer the argument that bitcoin mining harms the atmosphere, the previous miner outrightly rejected this assertion. He mentioned as an alternative of shopping for electrical energy from energy corporations, bitcoin miners — notably from China — typically want utilizing “deserted power” which is cheaper.

Deserted power might be pure gasoline or hydroelectricity which isn’t presently being utilized, he mentioned. In accordance with Guo, in areas like Kazakhstan and Russia the place miners are harnessing such power to mine bitcoin, native communities have benefited.

In the meantime, regarding studies that the Ethereum Merge might have given the U.S. Securities and Change Fee (SEC) grounds to launch or institute some type of proceedings towards the blockchain’s co-founders, Guo remarked:

“I believe Vitalik [Buterin] and the boss behind him, his identify is Joseph Lubin. This man is aware of the way to repair this drawback as a result of he has acquired hyperlinks with Wall Road. He is aware of the way to cope with the SEC.”

Tags on this story
Bitcoin mining, Chandler Guo, Chandler Guo ETH, decentralized exchange, ETH Vitalik Buterin, Ethereum Hard Fork, ETHW, Joseph Lubin, Mining Pools, NFTs, The US Securities and Exchange Commission

What are your ideas on this story? Tell us what you assume within the feedback part beneath.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written extensively concerning the financial troubles of some African international locations in addition to how digital currencies can present Africans with an escape route.














Picture Credit: Shutterstock, Pixabay, Wiki Commons

Extra Widespread Information

In Case You Missed It



Source link

Related Posts

Coinbase (COIN) And Bitcoin-Related Stocks Soar Following Grayscale’s Victory
Cryptocurrency

Coinbase (COIN) And Bitcoin-Related Stocks Soar Following Grayscale’s Victory

August 31, 2023
The good, the bad and the ugly of the EU’s crypto rules
Cryptocurrency

The good, the bad and the ugly of the EU’s crypto rules

August 31, 2023
Grayscale Victory Sends Bitcoin Open Interest Surging After Hitting One-Year Lows
Cryptocurrency

Grayscale Victory Sends Bitcoin Open Interest Surging After Hitting One-Year Lows

August 30, 2023
No, Bitcoin withdrawals from exchanges are not inherently bullish for crypto
Cryptocurrency

No, Bitcoin withdrawals from exchanges are not inherently bullish for crypto

August 30, 2023
Is SHIB Poised For New Heights?
Cryptocurrency

Is SHIB Poised For New Heights?

August 30, 2023
BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC
Cryptocurrency

BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

August 30, 2023
  • Trending
  • Comments
  • Latest
2 Lending Platforms Ordered to Shut Down – Regulation Bitcoin News

2 Lending Platforms Ordered to Shut Down – Regulation Bitcoin News

October 19, 2021
Cardano Slips to 5th-Largest Crypto Market Position — ADA Down 30% Since All-Time High Last Month – Altcoins Bitcoin News

Cardano Slips to 5th-Largest Crypto Market Position — ADA Down 30% Since All-Time High Last Month – Altcoins Bitcoin News

October 13, 2021
Cardano Loses 3rd Spot On Crypto Top 10, Why It May Drop Even More

Cardano Loses 3rd Spot On Crypto Top 10, Why It May Drop Even More

October 18, 2021
Ethereum Looks Set To Explode As 400,000 ETH Exits Coinbase

Ethereum Looks Set To Explode As 400,000 ETH Exits Coinbase

October 15, 2021
Coinbase (COIN) And Bitcoin-Related Stocks Soar Following Grayscale’s Victory

Coinbase (COIN) And Bitcoin-Related Stocks Soar Following Grayscale’s Victory

0
Stock Exchange of Thailand

Exploring the Stock Exchange of Thailand

0
Taiwan Stock Exchange

Taiwan Stock Exchange: Traders and the Taiwan Securities and Futures Bureau

0
Shenzhen Stock Exchange

Shenzhen Stock Exchange: China’s Third Largest Exchanges

0
Coinbase (COIN) And Bitcoin-Related Stocks Soar Following Grayscale’s Victory

Coinbase (COIN) And Bitcoin-Related Stocks Soar Following Grayscale’s Victory

August 31, 2023
Bitcoin ETFs have 75% chance of approval this year: Bloomberg analysts

Bitcoin ETFs have 75% chance of approval this year: Bloomberg analysts

August 31, 2023
The good, the bad and the ugly of the EU’s crypto rules

The good, the bad and the ugly of the EU’s crypto rules

August 31, 2023
Bull Run For Bitcoin If It Breaks This Level, Expert Addresses Elephant In The Room

Bull Run For Bitcoin If It Breaks This Level, Expert Addresses Elephant In The Room

August 30, 2023

Crypto Biz Daily

© 2021 Cryptobizdaily.com. All Right Reserved.

Navigate Site

  • Home
  • About us
  • Contact Us
  • Disclaimer
  • Privacy Policy

Follow Us

No Result
View All Result
  • Contact Us
  • Homepages
    • Home
  • Blockchain
  • Bitcoin news

© 2021 Cryptobizdaily.com. All Right Reserved.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?