Do we get dual ERC20 Tokens as well?
We all know about upcoming Hard Fork on Ethereum named Metropolis currently being tested on Ropsten Testnet successfully. and from past experience from Bitcoin Hard fork and based technical analysis of blockchain technology. A new crypto currency will be introduced out of ethereum, if some of miners doesn't support this fork.
Ethereum is going from PoW to PoS consensus.
This would mean no more Ethereum mining at all and people who hold and stake ethereum will be earning more ethereum in order to authenticate transactions. which is amazing and should give a hike on ETH pricing as more and more people would be willing to buy ETH in order to get rewards.
What will happen to ERC20 Tokens?
We all know after an hard fork a new blockchain gets split and a new currency gets born out of the previous one. with this hard fork, the major question is what will happen to ERC20 Token?
- Do we get ERC20 Split as well?
- Will the less important blockchain would become dead completely?
- Do Ether give an option to developers to choose out of the chain split?
I had no idea when does this hard fork happen and as a holder of ethereum is there anything to be worried about. Cheers mike
The hardfork has been planned for some time - its going to be phasing in the difficulty bomb which will increase the difficulty to the point where mining won't be sustainable anymore.
It is meant to transfer the PoW to PoS - so you will be able to hold ETH and "mine" it that way.
Theres alot up in the air right now, as the hardfork is being tested but it should be fine - according to the plan, at least
Thank you very much for your informative reply. Cheers mate
You need not to be worried. just make sure your etherum are in a hardware wallet, paper wallet or on myetherwallet in order to be safe
Would it be safe in coinbase? Cheers mike
No mate, coinbase is centralized more over if you move it to myetherwallet you would get separate chain coins as well... We don't know if coin base would give this to you...
Thank you very much for your advice cheers mate
Again upvoting your post.. :)
Thanks mate... Really appreciate it... @nakamurasatoshi
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This is a great question, I own a few tokens and in theory I guess there really isnt a way to know until the changes go into effect.
I assume everything will go as normal because with PoS it will be like "mining" by just holding coins - but there is no telling in the long run.