New Mining Fork of Ethereum Completed to Incentivize The PoW Mining Community

  • Date: 22-Apr-2021
  • Source: Dubai Chronicle
  • Sector:Technology
  • Country:Middle East
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New Mining Fork of Ethereum Completed to Incentivize The PoW Mining Community

On April 15, 2021, Ethereum GeneSys successfully executed a mining fork of Ethereum.  This fork, which took place in Toronto, is an effort to save the global Ethereum mining community from the Blockchain network's proposed ‘Quick Merge'. The Ethereum GeneSys Foundation has successfully initiated a ‘hard fork', which aims to reclaim staked Ethereum 2.0 coins and allocate it to incentivize the Ethereum mining community to mine Ethereum GeneSys.  This will give the Ethereum GeneSys Foundation control of the Ethereum open source protocol. The Proof-of-Stake on EthereumGeneSys Hybrid will be implemented on the Quick Merge proposed by Vitalik Buterin of Ethereum Foundation.

The Ethereum GeneSys Foundation successfully initiated the hard fork of the Ethereum/ERC-20 ETH mainnet network on April 15th, 2021, at 16:20EST, on block 12246768, to Ethereum GeneSys ETG mainnet, including the Berlin Fork.

This hard fork initiated by the Ethereum GeneSys Foundation, known as the ‘Maple Fork', has been undertaken to save the Proof-of-Work community, and to produce a forked coin called Ethereum GeneSys (ETG). The foundation also plans to make future changes to the Blockchain consensus,