In a bid to save the Ethereum mining community, a group known as the Ethereum Genesys Foundation (EGF) successfully hard forked the chain to continue Proof-of-Work (PoW) mining.
With the ETH 2.0 upgrade well underway, the switch to Proof-of-Stake (PoS) would render miners redundant. What’s more, miners claim they are slowly being phased out, even before ETH 2.0 is fully rolled out. Community splits are difficult at the best of times, more so how the original chain tends to fare better. With that in mind, is Ethereum Genesys doomed to fail?
Ethereum Genesys Looking to Continue PoW
The EGF successfully initiated the hard fork of the Ethereum mainnet in mid-April, which they called the “Maple Fork.” They intend to save the PoW mining community and produce a forked token called Ethereum Genesys (ETG).
On why users would prefer this to the original Ethereum, they say the Ethereum Foundation’s approach to PoS makes it less decentralized than PoW as most Beaconchain