Community braces for ‘fork wars’ after Poloniex’s sudden move to support EthereumFair over ETHW Community braces for ‘fork wars’ after Poloniex’s sudden move to support EthereumFair over ETHW
Poloniex said it supports EthereumFair due to this PoW chain being supported by the majority of the community.
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Updated: Sep. 15, 2022 at 3:51 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The Poloniex exchange has named EthereumFair (ETF) as the ETH Proof-of-Work (PoW) forked chain as the principal one it will support, according to a Sept. 15 statement.
Previously, Poloniex voiced support for ETHW but said it changed its mind as ETF is “supported by the community’s majority.”
Poloniex added that it will continue to support all other fork chains “according to the situation.”.
The Fork Wars
The Twitter community is calling the move the start of the new “fork wars,” harkening back to the time Bitcoin Cash was created.
Justin Sun's Poloniex exchange suddenly stated that it has decided to choose EthereumFair, a forked chain launched by the ClassZZ, as the main chain of ETHW tokens. ETF is not the ETHPOW that @ChandlerGuo and others have promoted before. https://t.co/qMk9drZbW1
— Wu Blockchain (@WuBlockchain) September 15, 2022
Twitter account @HsakaTrades called the move the beginning of the “clown show.”
This is another fork, not just a rename.
What in the fuck lmao.https://t.co/4MyFTfFHeU pic.twitter.com/JrROYGBBfh
— Hsaka (@HsakaTrades) September 15, 2022
CryptoSlate could not get further statements from Poloniex, Justin Sun or the EthereumFair team as of press time.
The Merge
The Ethereum Merge occurred at approximately 07:00 UTC on September 15, effectively ending PoW on this chain.
In the years preceding this event, PoW advocates and miners had pushed back, resisting the transition. However, with the Merge now finalized, ETH miners are considering their next move.
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Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Poloniex
Poloniex is a US-based cryptocurrency exchange platform offering a wide variety of digital assets.