TRON Founder Justin Sun Supports Altcoin Aiming To Smash Ethereum!

Tron (TRX) founder Justin Sun, Ethereum (ETH) After switching to the Proof of Stake (PoS) mechanism, it announced that it will support a hard fork event that will split the network in two.

Switching of ETH to the PoS system, cryptocurrency It is known as “Merge” in the world.

The developers say that abandoning the Proof of Work (PoW) system would make the network much cheaper, faster and more environmentally friendly. This will also mean the end of the revenue stream for Ethereum miners who are rewarded with ETH tokens for funding the blockchain.

According to the data, miners generated over $620 million in ETH in July alone, making Merge a sort of disaster for a significant amount of cash.

Justin Sun Announces Support for Ethereum Equivalent EthereumPOW Altcoin

This has prompted some leading Chinese miners to propose a hard fork so that even if Ethereum goes through Merge and is approved by stakers, miners will continue to support the newly dedicated PoW version of the chain. In theory, such an event could keep miners’ financial activities intact.

Justin Sun expressed his support in his tweet:

“We currently have over 1 million ETH. If the Ethereum hard fork is successful, we will donate some forked #ETHW to the #ETHW community and developers to improve the ETH ecosystem.”

The Sun-run cryptocurrency exchange Poloniex is currently EthereumPOW It offered support for the Ethereum fork, called the The exchange will list both ETH and the forked token currently called ETHW. A futures product for the new token will be released in August, allowing investors to trade on prices.

The Tron-based stablecoin USDD, in which Sun has invested billions, will be “the first stablecoin in the EthereumPOW ecosystem,” according to a Tweet.

*Not investment advice.

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