Renowned Chinese miner Chandler Guo wants to create a hardfork of the Ethereum cryptocurrency (ETH) called ETHPOW.
The Merge update to the Ethereum blockchain is scheduled for release in September and will involve a transition to the PoS consensus algorithm. Once the upgrade is implemented, mining will be replaced by a process of transaction verification by stackers.
Guo is going to develop an alternative network ETHPOW. It is clear from the name that it will be based on the PoW algorithm, so blockchain users will be able to mine virtual currency as before.
In 2016, Chandler was heavily involved in the separation of the Ethereum Classic (ETC) network because of the developers’ decision to roll back the blockchain to give people back the coins stolen in the hacking attack on The DAO. Guo promises to use his experience to kick-start a new version of Ethereum.
One Twitter user reasonably pointed out the pointlessness of creating another ETH hardfork. Ethereum creator Vitalik Buterin holds a similar opinion, suggesting that miners migrate to the ETC blockchain after The Merge is activated.