Chainlink has released a statement assuring users that its services will continue functioning on the Ethereum (ETH) network before and after the much-anticipated adoption of the proof-of-stake (PoS) consensus layer.
No Support for Ethereum Forks
However, Chainlink also pointed out that the protocol will not support forked versions of the Ethereum blockchain, including proof-of-work (PoW) forks.
In the statement, the network said:
The Chainlink protocol and its services will remain operational on the Ethereum blockchain during and after the Merge to the PoS consensus layer. Users should be aware that forked versions of the Ethereum blockchain, including PoW forks, will not be supported by the Chainlink protocol. This is aligned with both the Ethereum Foundation’s and the broader Ethereum community’s decision, achieved via social consensus, to upgrade the Ethereum blockchain to PoS consensus.
Decentralized App Developers Advised to Pause Smart Contract Operations
Additionally, Chainlink advised decentralized application (dApp) developers to postpone using smart contracts if they were unsure about switching to the new PoS consensus mechanism on Ethereum. The network suggested that doing this would help to “protect end users” and prevent “unforeseen incidents.”
Chainlink also highlighted the potential for unexpected behavior from dApps running on the forked version of Ethereum as a result of both network and app-level issues.
The protocol also asked developers to ensure that any external dependencies on which their smart contracts were reliant would function normally during and after the Ethereum Merge.
And to guarantee the highest degree of service reliability, Chainlink also promised to keep an eye on any changes related to the Merge.
Forked Chains Might Struggle to Maintain DApps After the Merge
The Chainlink protocol is the bedrock of decentralized finance (DeFi) applications on Ethereum. It is the most used price feed and oracle protocol, with its technology enabling off-chain computing and access to real-world data for smart contracts.
As a result, Chainlink’s ceasing support of Ethereum forks will mean that any new chains will have difficulty persuading projects to stay in the PoW chain.
Defi Developers Divided Over Ethereum PoW Forks
The Merge, scheduled for September or October this year, will switch the Ethereum protocol to a proof-of-stake consensus layer from the energy-intensive proof-of-work consensus layer.
But while some claim that this move will cut Ethereum’s energy footprint by 99 percent, those among the Ethereum community wish to preserve the current consensus mechanism and have therefore proposed a hard fork to achieve this.
One such initiative, EthereumPOW (ETHW), is being led by Hongcai Guo, a semi-retired Chinese miner who ostensibly received requests from Chinese businesses to start working on the fork. Justin Sun, the controversial businessman and creator of the Tron blockchain, declared he would provide one million ETH to the EthereumPOW community and devs after the hard fork.
Last week, Poloniex became the first exchange to list ETH and ETHW. However, going by its announcement, Chainlink will not support EthereumPOW or its related projects and products.
Source: https://crypto.news/chainlink-announces-it-will-not-support-forked-versions-of-the-ethereum-blockchain/