Ethereum chain split is possible after the Merge, survey finds #togrp7

Ethereum’s proof-of-work (PoW) powered by GPUs generated approximately $19 billion in revenue last year for ETH miners. But these revenue streams are in danger as Ethereum is expected to become a proof-of-stake (PoS) blockchain via “the Merge” upgrade in September.

But contentious hard forks aren’t anything new. In fact, the current Ethereum chain came to be in 2016 following a controversial hard fork aimed at reversing a $60 million exploit, resulting in a chain split with Ethereum and Ethereum Classic (ETC). This is where the argument of Ethereum Classic versus ETH1 begins. Since Ethereum Classic is already a PoW chain, creating a similar chain, ETH1, will not have “much relevance,” according to some redditors.On the other hand, they could also be becoming stakers on the Ethereum’s PoS chain.