Ethereum PoW team pens an open letter as Merge inches closer

The Ethereum [ETH] network has a lot going. From prepping for the Merge to tackling miners who have been on a mission to fork the chain, the community eagerly awaits to see the fate of the network. While some strongly negate the chances of a hard fork, a few others were rooting for it. Meanwhile, the Chandler Guo-led Ethereum PoW team tried to convince the community of their credibility.

In a Twitter thread that was an open letter, ETHW noted that core members were “geeks and crypto investors from all over the world who believe in proof-of-work.” In addition to this, they suggested that they choose to be anonymous. Taking notes from Bitcoin, the team noted that it was a product of cypherpunks and intended to uphold privacy and anonymity. Through this, they hope to bring “precaution against our wealthy and powerful enemies and their lobbyist friends in D.C.”

Most of the ecosystem noted how individuals wishing to employ the PoW side of Ethereum could utilize Ethereum Classic [ETC]. Despite this, the PoW team tweeted,

for the livelihood of the entire ecosystem. A fully regulated and compliant DeFi, NFT, or GameFi industry sounds completely unnecessary and the opposite of innovation. This will happen when all the top block producers are fully compliant and

7/n

— EthereumPoW (ETHW) Official #ETHW #ETHPoW (@EthereumPoW) August 29, 2022

There have been multiple questions and speculations about how and when EthereumPoW would go live. The PoW team, however, noted that it doesn’t have to be created as it already exists, and the network’s mission is to “simply continue being Ethereum.“

In addition, the network urged “more geeks” to join the core team. The team added,

“Last but not least, no, we are not after those ethers. We are geeks and many of us have already made it. We are politically motivated to work together to protect the Ethereum that we love.”

Sadly, Looksrare, a prominent NFT marketplace, announced that it wouldn’t support any forked versions of Ethereum.

As a chain-split is now likely to occur on Ethereum post Merge, with POS/POW going their separate ways, it’s time to share the risk mitigation policy we previously laid out back in April, in a little more detail.https://t.co/CD5ExHKgaV

— LooksRare.eth (@LooksRare) August 29, 2022

What’s happening with the Merge?

The Ethereum network recently announced the Bellatrix update. This has been scheduled to occur on September 6. Both Bellatrix and Paris upgrades are considered to be quite essential for the Merge to take place.

Earlier today, Vitalik Buterin, the co-founder of the Ethereum network, took to Twitter and urged the community to upgrade their clients.

Reminder: even though the merge is coming around Sep 10-20, the beacon chain hard fork is on Sep 6. Make sure to update your clients before then! https://t.co/x8GQCbtNNk

— vitalik.eth (@VitalikButerin) August 30, 2022

At press time, Ethereum was trading for $1,585 following a 9.61 percent daily pump.