Ethereum Founder Vitalik Buterin Says Those Unhappy With Ethereum's Evolution Can Use This Alternative: 'A Totally Fine Chain'

Ethereum ETH/USD creator Vitalik Buterin invited people to use the Ethereum Classic ETC/USD blockchain if they prefer Proof-of-Work networks.

What Happened: Speaking at the EthCC conference in Paris, Buterin discussed the upcoming Merge, an event that would mark the Ethereum blockchain’s transition from Proof-of-Work to Proof-of-Stake.

See Also: PROOF OF STAKE VS PROOF OF WORK

Buterin referred to Ethereum Classic as the “original Ethereum” that did not betray the vision by forking the DAO. 

“It’s a very welcoming community and I think they’ll definitely welcome Proof-of-Work fans,” he said.

“It’s not even a joke. If you like Proof-of-Work, you should go use Ethereum Classic. It’s a totally fine chain.”

Why It Matters: Ethereum Classic has already seen a significant amount of price action over the last few weeks as market participants anticipate a miner migration from the Ethereum chain.

We are seeing price movement on $ETC. 

Why is #EthereumClassic pumping?

Short Answer:
With $ETH moving to #PoS in ~60 days, #ETC becomes the largest #PoW smart contract network. The second largest proof of work network behind only Bitcoin.#Miners = real users and value. 

— Ethereum Classic DAO (@EthClassicDAO) July 17, 2022

When Ethereum officially moves to PoS, Ethereum Classic will become the second-largest PoW network after Bitcoin BTC/USD.

Price Action: According to data from Benzinga Pro, ETC was trading down 7% at $24.60 over the last 24 hours at press time, but is up 14.87% over the last seven days.

Photo by John Phillips via Wikimedia