17 Mar 2025

light mode

Chainlink will not support the Ethereum fork on PoW

Chainlink will not support the Ethereum fork on PoW

The closer Merge is, the more questions about what Ethereum miners will do, being essentially out of work.

There are two most likely solutions for this regard: working with the Ethereum fork on the Proof-of-Work algorithm or transferring their capacity to other blockchains running on PoW.

All existing projects are obliged to determine their strategies for migrating to the updated Ethereum network, which implies their position towards those forks that may continue to operate on the previous algorithm.

One blockchain that will definitely not work with PoW forks is Chainlink. According to the communiqué on the project’s website, this decision is in full compliance with the general consensus on Merge between the Ethereum Foundation and the community.

To protect end users and avoid unforeseen incidents, it is recommended to suspend smart contracts for those Ethereum developers and dApp teams unsure of their migration strategy. This is due to possible problems at the protocol and application levels of dApps running on Ethereum forks, including PoW forks.

Chainlink has positioned itself as the largest oracle provider to support advanced smart contracts “on any blockchain”. Does such a radical position on PoW mean that “now not on any”? Interestingly, will Chainlink writers change the project description to something like “on any blockchain approved by Vitalik Buterin”? By the way, although Vitalik tries to maintain media neutrality, he does not hide his point of view that the authors of PoW forks are aimed solely at making money, not at the industry’s progress.

Oracle protocols are vital to the DeFi industry, giving blockchains a reliable and secure way to update data from other networks as they interact. Not only is Chainlink the industry leader, but it also solves the so-called “oracle problem”, which involves the risks of possible misuse by an oracle of the blockchain’s trust in its data (including non-malicious errors or failures). For example, some decentralized platforms have been hacked because of erroneous data from oracles, allowing the withdrawal of assets at an invalid market rate.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
Pump․fun Meme Coin Launches Collapsed To 0.82%

Pump․fun Meme Coin Launches Collapsed To 0.82%

The Pump․fun platform has recorded an unprecedented drop in the weekly graduation rate of meme coins – for the first time, it fell below 1%, reaching 0.82%.

Anton Kryshtal
Senate Banking Committee Passes Stablecoin Bill: What the Genius Act Means 

Senate Banking Committee Passes Stablecoin Bill: What the Genius Act Means 

The Senate Banking Committee has endorsed the Senate Stablecoin Bill GENIUS (Guiding and Establishing National Innovation for U.S. Stablecoins), which seeks to set up a clear regulatory framework for payment of stablecoins.

Anahit Avetisyan
$100 Billion Gone! Bitcoin Speculators Trapped by the Market

$100 Billion Gone! Bitcoin Speculators Trapped by the Market

CryptoQuant reports that short-term Bitcoin investors lost over $100 billion while trying to cash in on BTC’s extreme volatility.

Anton Kryshtal
Crypto Scam Exposed: AML Bitcoin CEO Faces Conviction

Crypto Scam Exposed: AML Bitcoin CEO Faces Conviction

AML Bitcoin CEO Rowland Marcus Andrade was found guilty of wire fraud and money laundering by a federal jury in California after a five-week trial for misleading investors.

Anahit Avetisyan
How the Ethereum Foundation Is Shaping the Future of Crypto

How the Ethereum Foundation Is Shaping the Future of Crypto

For over a decade, the Ethereum Foundation has been the driving force behind Ethereum’s growth—from Vitalik Buterin’s white paper to a global financial and technological revolution.

Ivan Dikalenko
The Biggest Tweets in Crypto This Week: SEC vs Ripple Updates & More

The Biggest Tweets in Crypto This Week: SEC vs Ripple Updates & More

Summing up this week in Crypto Twitter/X: major announcements, updates, rumors, and interesting takes on the SEC vs Ripple case, Ethereum’s updates, the Trump family deal with Binance, and more.

Anahit Avetisyan
The Stablecoin Showdown: How USDC and Tether Compete for Dominance

The Stablecoin Showdown: How USDC and Tether Compete for Dominance

Two giants lead the stablecoin market—Tether (USDT) and USD Coin (USDC). But beneath their promise of stability lies a fierce competition.

Ivan Dikalenko
What Is Fiat Currency and Its Role in the Crypto World?

What Is Fiat Currency and Its Role in the Crypto World?

Discover fiat currency—a government-issued money without intrinsic value—and learn how it interacts with cryptocurrencies and influences digital financial systems worldwide.

The Coinomist
How to Short Crypto Safely and Effectively: Tips and Strategies

How to Short Crypto Safely and Effectively: Tips and Strategies

Learn advanced strategies for shorting crypto safely. This guide covers key tips, risk management techniques, and various methods like direct shorting, futures, margin trading, and options.

The Coinomist
Risk Reversal: A Deep Dive into Best Practices

Risk Reversal: A Deep Dive into Best Practices

Explore risk reversal strategies and learn best practices for managing risks in trading and business. Understand how to balance risk and reward to optimize outcomes.

The Coinomist
World Bridge Currency: Is XRP the Future of World Bridge Currencies?

World Bridge Currency: Is XRP the Future of World Bridge Currencies?

Explore XRP as a potential world bridge currency. Learn how its speed, low fees, and scalability could transform global cross-border transactions and reshape financial systems.

The Coinomist
What Is TRC20? Exploring the Tron Network Standard

What Is TRC20? Exploring the Tron Network Standard

Discover TRC20, the token standard on the TRON blockchain. Learn how TRC20 tokens work, their advantages like low fees and speed, and their use cases in DeFi, gaming, and more.

The Coinomist
What Is a Bullish Market? How to Spot One Before It Happens

What Is a Bullish Market? How to Spot One Before It Happens

Learn what a bullish market is, its key characteristics, and how to identify early signs before a full bull market develops. Gain insights into market trends and strategies.

The Coinomist
Trump’s “US Crypto Reserve” Plan: A Game Changer or Just Talk?

Trump’s “US Crypto Reserve” Plan: A Game Changer or Just Talk?

It takes just one post from Trump to stir the crypto market. Recently, he announced on Truth Social that the evaluation of a strategic crypto reserve is in progress as part of his broader Trump crypto policy.

Anahit Avetisyan
Trump’s Crypto Tax Plan: Smart Policy or Risky Gamble?

Trump’s Crypto Tax Plan: Smart Policy or Risky Gamble?

There’s been a lot of talk about possible changes to crypto tax policies in the U.S. One of the more controversial ideas floating around is “Trump no tax on crypto.” As Trump adopts a more crypto-friendly stance, major rumors have surfaced that he’s considering a 0% tax on crypto gains.

Anahit Avetisyan
MORE
Wealth, Influence, and Bitcoin: The Market Moves of the Ultra-Rich

Wealth, Influence, and Bitcoin: The Market Moves of the Ultra-Rich

Billionaires have a significant impact on digital asset prices, often driving instability and engaging in crypto market manipulation. This view is echoed by American entrepreneur David Wolfe.

The Coinomist
The New Crypto Sports Economy: Sponsorships, Fan Tokens, and NFTs 

The New Crypto Sports Economy: Sponsorships, Fan Tokens, and NFTs 

Crypto companies are shaking up crypto sport, partnering with clubs and stadiums for high-profile sponsorships. This means big bucks for athletes, thanks to advertising and fan tokens.

The Coinomist
MORE