Potential Ethereum proof-of-work fork unlikely to succeed, says Vitalik Buterin

08/08 13:14

According to The Block, the potential upcoming Ethereum proof-of-work fork is unlikely to have substantial long-term adoption, according to Ethereum co-founder Vitalik Buterin. Appearing at ETHSeoul, Buterin answered questions from journalists during a Q&A session, during which he addressed the potential impact of this kind of a hard fork on the Ethereum network. In response to a question about this plan, Buterin said he doesn’t see an organic aspect to it and claimed it’s just a “couple of outsiders that basically have exchanges, and mostly just want to make a quick buck.” "I'm not expecting it to have substantial, long-term adoption," Buterin said. Buterin acknowledged that there may be “a couple of splats on some markets in the meantime,” before adding “I hope that whatever happens, doesn't lead to people losing money.” This may refer to exchanges launching IOU products, enabling traders to take punts on what the value of the forked tokens will be, assuming they go ahead. Three exchanges are now offering such products. Vitalik Buterin also spoke about Ethereum Classic, adding that it has a “superior community and a superior product” for people who support proof-of-work values and preferences.

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