Ethereum (ETH) is one of the most discussed cryptocurrencies nowadays. As a second largest digital currency by market cap, it is both discussed from a perspective of its gains, as well as from its technical perspective.
The proposal which seeks a technical fix would return $264 million in lost funds led the developers to believe that there must be a new version of the code. One of them is Alex Van de Sande, who announced:
“It’s clear no matter where you stand that the issue is contentious enough that if [EIP 999] goes forward and implements then it will generate a contentious hard fork.”
Therefore, he believes that “a split is completely unavoidable”.
If the split occurs, it is likely that both of the Ethereum blockchains will lose value as the community would split into two groups. This means that the money lost as a result would decrease in value.
Obviously, this doesn’t eliminate the issue that currently, hundreds of millions of dollars are locked up in Ethereum where users can actually use them. That is exactly why the entire situation is complicated. As Van de Sande said:
“The question is how to give value to those tokens, and that’s something I, and I hope others, will probably be writing more about.”
What do you think will happen with Ethereum? Will we see the first blockchain split – or is this only a speculation?
Let us know in the comments!
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