Crypto community divided over Ethereum hard fork Crypto community divided over Ethereum hard fork
Crypto exchanges like MEXC, Gate, and OKX have hinted that they could list the forked version of Ethereum.
2 min read
Updated: Aug. 8, 2022 at 1:07 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Following Chandler Guo’s public vow to fork Ethereum (ETH), the call for a hard fork has grown significantly, leaving stakeholders to pitch their tent on different sides.
Tron (TRX) founder Justin Sun and his crypto exchange Poloniex were one of the first supporters of the idea.
OKX, Huobi hint at listing Ethereum forks
Jay Hao, the CEO of OKX exchange, has hinted that the exchange could list “the newly forked coins if there is sufficient demand.”
At @OKX, we actively monitor and will support the #Ethereum Merge.
Potential Ethereum hard forks may emerge when the network's upgrade takes effect.
We will evaluate and list the newly forked coins if there is sufficient demand.
— jay_star.okx ⚛️ OKX CEO (@star_okx) August 8, 2022
However, he added that OKX “will support the Ethereum Merge.”
Huobi also confirmed that it would support Ethereum forked assets on its platform as long as they meet the exchange security requirements.
But it added that it does not encourage arbitrary forking and pre-mining that could affect the industry’s development.
Other crypto exchanges like Gate Exchange and MEXC have also revealed that they would support ETH hard forks.
BitMEX says ETHPoW would generate interest
BitMEX wrote that there are many technical challenges that a forked version of Ethereum would face. It continued that if the positive sentiments surrounding the forked coins persist, leading centralized exchanges might list them.
ETHPoW may generate a lot of excitement, and we predict that ETH vs ETHPoW will be a popular trading pair post-split, at least until another interesting dynamic comes along.
Meanwhile, BitMEX will allow its users to have exposure to ETHPoW through a linear futures contract margined in Tether that will go live on August 9.
Chainlink, Digital Currency Group will not support hard forks
CEO of Digital Currency Group Barry Silbert said his firm does not intend to back any Ethereum hard fork.
fwiw, our full support is behind ETH PoS, in addition to ETC, and have zero intention to support any ETH PoW fork. ETH miners should move to ETC to maximize their revenue long term. simple as that
— Barry Silbert (@BarrySilbert) August 6, 2022
According to Silbert, ETH miners should move to Ethereum Classic (ETC) to maximize their revenue for the long term.
Chainlink (LINK) said it would not support any network that is a forked version of Ethereum. The protocol and its services will only remain operational on Ethereum during and after the merge.
“Users should be aware that forked versions of the Ethereum blockchain, including PoW forks, will not be supported by the Chainlink protocol. This is aligned with both the Ethereum Foundation and broader Ethereum community’s decision.”
Meanwhile, Ethereum co-founder Vitalik Buterin said that those who want Ethereum to remain a PoW network are those who want to make quick cash. Buterin said:
“Should a fork gain traction, I’m sure there’s going to be problems… if they want to make a fork, it’s on them to mitigate those problems.”
Mentioned in this article
Ethereum 
Ethereum Classic 
Chainlink 
TRON 
OKX 
HTX 
Gate.io 
Poloniex 
BitMEX 
Digital Currency Group 
Justin Sun 
Barry Silbert 
Vitalik Buterin Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Ethereum Classic
$25.7224
Ethereum Classic (ETC) is a continuation of the original Ethereum blockchain – the classic version preserving untampered history prior to the July 2016 DAO hack..
Chainlink
$20.9218
Chainlink is a decentralized oracle network that connects smart contracts on the blockchain to real-world data.
OKX
OKX is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.
HTX
Huobi, a virtual asset exchange, launched a revised branding strategy on September 13, 2023, where “Huobi” will be rebranded as “HTX.” “H” stands for Huobi, “T” represents TRON with a commitment to being all in TRON, and “X” stands for the exchange.
Gate.io
Gate Technology’s mission is to serve the blockchain industry by providing secure and reliable products to consumers and companies around the world.
Poloniex
Poloniex is a US-based cryptocurrency exchange platform offering a wide variety of digital assets.
BitMEX
HDR Global Trading Limited owns and operates BitMEX which is a trading platform that offers investors access to the global financial markets using only Bitcoin.
Digital Currency Group
Digital Currency Group’s mission is to accelerate the development of a better financial system.
Justin Sun has carved a name for himself as a leading figure in the blockchain sector.
Barry Silbert, recognized as a foundational figure in the cryptocurrency landscape, serves as the CEO and founder of Digital Currency Group (DCG).
Vitalik Buterin stands as the pioneering force behind Ethereum, a transformative community-driven platform that fuels the cryptocurrency ether (ETH) and underpins a myriad of decentralized applications.
