Ethereum Hard Fork: Is an ETH fork happening in 2022?

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Ethereum hard fork on a chip.
Credit: Unsplash

The Ethereum merge is completed. However, a crypto faction is vying for an Ethereum Hard Fork.

The faction believes that the merge can have a prolonged consequential impact on the entire Ethereum ecosystem, which will eventually end up ousting miners by introducing the Ethereum staking mechanism.

The faction asserts that instead of shifting the blockchain to proof-of-stake consensus, the blockchain devs should consider deploying a hard fork to establish equilibrium and retain the Ethereum mining mechanic and existing proof-of-work consensus.

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Is an Ethereum Hard Fork happening in 2022?

The Ethereum Foundation and core developers have shared no official plans that involve forking the existing blockchain.

However, there are still many Ethereum miners pushing for a fork without the Ethereum Foundation.

Per a CoinTelegraph report, Shane Molidor, CEO of AscendEx later shared that the Ethereum community is showing considerable interest in the hard fork notion, which may be a good head start to consider forking Ethereum in the long run.

The hard fork idea was also supported by Tron founder Justin Sun. Sun had earlier backed the idea of executing an Ethereum hard fork instead of transitioning the entire blockchain to PoS consensus.

Sun's crypto exchange Poloniex had announced that it will support any potential hard fork of Ethereum.

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Ethereum co-founder Vitalik Buterin dismissed fork rumours and claims, adding that neither the foundation nor the community has any plans of forking the Ethereum blockchain.

'I don’t expect Ethereum to really be significantly harmed by another fork,' Buterin said, referring to the hard fork of 2016 that resulted in a separate chain known as Ethereum Classic.

Vitalik continued:

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My impression from pretty much everyone I talked to in the Ethereum ecosystem is that they've been completely supportive of the proof-of-stake effort and united around it.

In an announcement released by OpenSea, the NFT marketplace stated that the platform will not support any ETH fork NFTs and will solely be committed to PoS Ethereum NFTs.

EthereumPoW

In recent news, a team committed to creating a fork of Ethereum's proof of work network launched their EtheruemPow mainnet on September 15.

EthereumPoW has acquired the support of leading cryptocurrency exchanges, including Binance and Kraken. Kraken has also listed ETHW tokens for trading purposes.

Get the latest Ethereum news here and more on Planet Crypto.