Criticism of Merge Update from Famous Ethereum Miner!

Ethereum Miner Chandler Guo said that Ethereum’s Merge update has done great damage to mining.

Ethereum Miner Chandler Guo Predicts 90% of PoW Miners Will Go Bankrupt

Guo himself supported ETH He said his hardfork will attract the remaining miners as the glitches are fixed.

of ETH Merge Since the update, life has gotten harder for ETH miners.

With the transition to the Proof of Stake system, miners and their energy-burning computers are no longer needed to verify transactions.

Some of these miners turned to ETH’s PoW Fork to continue mining.

But even Chandler Guo, one of the fork’s strongest advocates, thinks that only 10% of miners who use PoW to mine ETHPOW or Ethereum Classic (ETC) will survive.

ETH miner Guo said in a statement that miners with access to cheap electricity can survive.

Referring to the PoW Fork, Guo stated that some miners have free electricity so they can continue working. Others announced that they would go bankrupt.

early Thursday, Bitcoin’ETH, the second-largest Blockchain after ETH, made a historic move by moving from the PoW mechanism to a faster and less energy-consuming protocol known as Proof of Stake (PoS).

Problems started to appear in the PoW Fork.

While there have been complaints of problems accessing blockchain servers, attempts to set up a crypto wallet have also been unsuccessful.

Guo was a strong advocate of holding ETH as a PoW system.

However, Guo currently rates his PoW Fork as mediocre.

He thinks this will change over time as more miners become involved.

*Not investment advice.