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10 May 2021

Ethereum Miners Strike Back in Bid to Retain PoW Mining Community

Ethereum Miners Strike Back in Bid to Retain PoW Mining Community


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Ethereum Miners Strike Back in Bid to Retain PoW Mining Community.

In a bid to save the Ethereum mining community, a group known as the Ethereum Genesys Foundation (EGF) successfully hard forked the chain to continue Proof-of-Work (PoW) mining.

The EGF successfully initiated the hard fork of the Ethereum mainnet in mid-April, which they called the “Maple Fork.” They intend to save the PoW mining community and produce a forked token called Ethereum Genesys (ETG).

On why users would prefer this to the original Ethereum, they say the Ethereum Foundation’s approach to PoS makes it less decentralized than PoW as most Beaconchain validators run on either AWS, Google Cloud, or Azure.

To protest this, some Ethereum miners threatened to concentrate hashing power to a single pool, leaving the chain potentially open to a 51% attack.

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