We currently have more than 1 million ETH. Sun’s statements could provide ETH mining with the support to launch an alternative. We’ve witnessed the consensus mechanism of POW as a key factor driving the expansion of Ethereum ecosystem, and are willing to continue to support the development of the community.Īcross the alley, in the ETH mining sector, “The Merge” has been an event with the capacity to bring uncertainty to their operations. Via his official Twitter handle, Sun said the following to the crypto community: His Excellency Justin Sun, diplomat and major investor in the crypto industry and in Poloniex, highlighted the key role that the platform has played in similar past events. At the moment, ETH is one of the most mine and adopted cryptocurrencies in the crypto space.Īll of this computational power, the entire ETH mining sector, might disappear unless the community decides to support and continue mining an ETH fork. In an official post, Poloniex explained the implications of this event as a potential trigger for the creation of an Ethereum fork or several, a different version of the Ethereum protocol still operating under a PoW consensus.
The exchange will take an unprecedented step to ensure that all users, communities, and sectors will be able to carry on in the space within a stable and sustainable market. Leading crypto exchange Poloniex, the first trading venue to support Ethereum and Ethereum Classic, will support “The Merge”. This event will forever change the crypto industry and the Ethereum ecosystem. In September, Ethereum will complete its transition from a Proof-of-Work (PoW) consensus to a Proof-of-Stake (PoS) consensus blockchain. Ethereum, the second cryptocurrency by market cap, is about to enter a new era.
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