Hello HOLDers!
Today let's explore the topic of the Ethereum merge and its possible forks, given that in September the transition from a Proof of Work (POW) consensus mechanism to a Proof of Stake (POS) consensus mechanism will take place.
In substance and in my personal opinion, this transition from a POW to POS system will create value for the Ethereum blockchain.
However, with the transition to Ethereum 2.0, many miners would actually find themselves out of work, so many said they wanted to fork while keeping the POW consensus mechanism unchanged. Others have announced that they will start mining Ethereum Classic.
In fact, it seems highly probable that some miners will make the Ethereum Proof of Work fork shortly before the Difficulty Bomb (and therefore shortly before the merge): just before the merge, the miners will create a chain where the merge will never happen and the consent will remain Proof of Work.
Some exchanges, such as Poloniex and Huobi, have already ruled on wanting to list the POW fork of Ethereum, as well as obviously also the POS version (Poloniex even has already listed the two ethereum even before the fork, as if they were futures, you can find them with the ETHW and ETHS tickers).
Will the Ethereum Fork POW be successful?
The infrastructure, however, for now it seems that it will only support Ethereum PoS (here you can find the official release of Chainlink: https://docs.chain.link/docs/ethereum-proof-of-stake-merge/).
Which means that Chainlink, the most used oracle in the world will not support the forked POW versions of Ethereum, but only the POS version of Ethereum 2.0 that will follow the merge.
So if there will be no DApps or infrastructures to support the forked POW version of Ethereum, the chain will have no value and will only be a speculative maneuver by miners and exchanges.
In light of what we have said, I do not think that the Ethereum forks promoted by miners to remain with a Proof of Work consensus mechanism will enjoy particular success, while, on the contrary, the 2.0 version of Ethereum will make the network more sustainable and more scalable.
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