Vitalik Buterin calls out ETHW hard fork proponents as “trying to make a quick buck”


Speaking in a closed press conference during South Korea Blockchain Week, Ethereum ( $1,990.46 ) founder, Vitalik Buterin, called people pushing for a hard fork of Ethereum ( $1,990.46 ) to retain proof-of-stake “simply trying to make a quick buck.”

Justin Sun recently announced support for a hard fork of Ethereum ( $1,990.46 ) post-merge by listing two new tokens on his Poloniex exchange. The tokens will be named ETHS and ETHW, related to proof-of-stake and proof-of-work, respectively. ETHW will represent a newly created hard fork of Ethereum ( $1,990.46 ) where GPU miners continue to mine Ethereum ( $1,990.46 ) after the merge of the Beacon chain. Some Chinese miners have reportedly signed up to be a part of this new chain in conjunction with Justin Sun.

Further, Sun is looking to incentivize a move to fork Ethereum ( $1,990.46 ) to retain a version of the current network within a proof-of-work chain. He is offering up to 1 million ETHW to build a developer community should the chain become realized.

We currently have more than 1 million #ETH. If # Ethereum ( $1,990.46 ) hard fork succeeds, we will donate some forked #ETHW to #ETHW community and developers to build #ethereum ecosystem. https://t.co/ee4kGSuVoK

— H.E. Justin Sun🌞🇬🇩 (@justinsuntron) August 4, 2022

Vitalik stated that he has seen nothing but support for proof-of-stake from within the community and noted that most people who want to retain proof-of-stake are “outsiders” from the Ethereum ( $1,990.46 ) ecosystem.

Justin Sun, the founder of the Tron blockchain, is undoubtedly an outsider to the Ethereum ( $1,990.46 ) ecosystem by many accounts. Vitalik also referenced that proponents of a hard fork “own exchanges and are just trying to make a quick buck.”

Speaking on a question as to whether a hard fork could cause issues with NFTs living on both forked chains, Vitalik replied, “I foresee market confusion if that proof-of-work hard fork becomes something substantial.”

However, Vitalik quickly put the onus on the proof-of-work chain instead of accepting that this could cause issues with what many will consider “mainnet.” Should a fork gain traction, Vitalik expressed, “I’m sure there’s going to be problems… if they want to make a fork, it’s on them to mitigate those problems.”

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