USDC and Tether stablecoins will work only on the «green» Ethereum blockchain

Representatives of the largest stablecoin issuers, USDC and Tether, have announced that they will work only on the «green» Ethereum blockchain — Ethereum PoS.

According to a statement published on Tether’s website, the stablecoin welcomes the transition of the Ethereum blockchain to PoS and will not support the creation of new forks that seek to remain on the PoW algorithm. Tether representatives are convinced that the transition to the green blockchain will not create difficulties for DeFi and other ecosystems that use USDT stablecoins, but rather improve their work.

Representatives of Circle (USDC) also commented on the upcoming merger, emphasizing that Ethereum PoS will pave the way for the growth and development of ecosystems.

As a reminder, a Chinese miner recently presented his version of the Ethereum hard fork, as most miners are not satisfied with the transition of ETH to the PoS consensus mechanism — their mining equipment will eventually cease to be necessary and will not bring the desired profit. Chandler Guo presented the ETHPOW project. However, crypto experts expressed skepticism about Guo’s project, as ETHPOW has no economic value and no use for DeFi projects (they will all switch to the new blockchain).

In 2016, developers split Ethereum. As a result, some miners were left to work with the old Ethereum Classic (ETC) blockchain, which did not reach the desired value and popularity.