ETC Cooperative, the organization that supports the Ethereum Classic (ETC) project has sent an open letter to the key person of the Ethereum PoW hard fork, Chandler Guo.
The contents of the open letter state why the Ethereum PoW hard fork will fail as well as the difficulties that will be encountered in the implementation of Ethereum forking.
Chandler Guo and his team had to replace the Geth, Erigon, Besu and Nethermind codebases to convert Ethereum.
Next, his team will release proof-of-stake (POS) transition logic that has been updated by the Ethereum Foundation to allow it to reduce difficulty and update Chain ID to provide replay protection.
Convincing mining software developers to change their mining software is one of the trickiest things to do. Unlike client code, most mining software is closed source which prevents other developers from making changes.
Additionally, Chandler Guo and his team need to convince wallet providers, crypto exchange companies and others to support ETHW. Additionally, collaboration with code operators can be beneficial for installing and running new client software functions.
According to ETC Cooperative, it is impossible to complete the Ethereum PoW hard fork on time, even though Chandler Guo completed all the changes made because The Merge is only a few weeks away.
Accordingly, when ETH/ETC splits, there will be no DeFi or stablecoins in custody, so splits will not occur.
Now, most of the value of ETH is in the form of tokens, not just native Ether. Therefore, the new chain will not bring any benefit to ETH users.
