Unchained The Chopping Block: ETHPoW Is 'a Terrible Way to Fork the Blockchain' - Ep. 396
Sep 14, 2022
In this engaging chat, Emin Gün Sirer, the founder of Ava Labs, shares his insights as the 'emperor of Avalanche.' He discusses the chaos surrounding the ETHPoW fork and its misconceptions. Sirer delves into the future of Ethereum after its transition to proof-of-stake, skepticism about the Merge's success, and the contrasting regulatory approaches of Coinbase and FTX. He also humorously reflects on privacy coin developments and the crypto community’s narrative, advocating for a multifaceted blockchain landscape.
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Post-Merge Roadmap Concerns
- The Ethereum merge is a significant event but doesn't deliver all promised scaling features.
- Key improvements like sharding and data availability layers are still pending, causing concern about the post-merge roadmap.
Early Proof-of-Stake Thinking
- Emin Gün Sirer recalls early proof-of-stake discussions, where the focus was replicating proof-of-work features.
- This included slashing and mirroring Bitcoin's mechanisms, heavily influencing Ethereum 2.0's design.
Market Effects of the Merge
- GPU prices are normalizing as miners shift from Ethereum.
- Proof-of-work coins like Ravencoin are pumping due to increased hashrate and uninformed buying pressure.