Companies Begin Making Their Decisions About Ethereum Merger: PoS or PoW?

Sam Kazemian, co-founder of Frax Finance, one of the largest stablecoin issuers in the world, presented his recommendation to Frax governance body, Frax DAO, not to support the PoW (Proof of Work) system after the Ethereum Merge update.

FRAX co-founder of Frax Finance, issuer of stablecoin Sam Kazemian by the Frax DAO on August 4, the stablecoin of Frax Finance. of FRAX Ethereum Merge only after update Proof of Stake on the mainnet available about being a proposal presented.

Sam Kazemian explains the purpose of this proposal, “To avoid the risk of serious damage to the ecosystem in the event of a fork of the Ethereum network. soft power using a move to end the possibilities of bifurcation” expressed as.

Bid by DAO if it is accepted By Frax DAO, Proof of Work all FRAX reserve remaining in the network will be liquidated.

On the other hand, the Chinese major Ethereum miner Chandler Guo led by a large mass of miners to create a Proof of Work-based Ethereum clone. has been preparing known. Chandler’s project to ETHW global cryptocurrency exchanges Huobi and Poloniex gives support.

Price based on data from CoinMarketCap for 1 dollar which is fixed FRAX, 2022 as of 1,427,726,837 world in terms of market value with dollar market value ranks as the fifth largest stablecoin.

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