Discussions around Ethereum's potential fork are heating up as the Merge approaches, with over 800T of miner hash power hanging in the balance. Many anticipate Ethereum's second major community fork is imminent.
The secondary market has begun speculating on Ethereum fork concepts. Following Fed's dovish remarks triggering a crypto rally, LDO and ETC—representing ETH2.0 and fork concepts—led the surge. BlockBeats curated fork-related projects below (NFA), categorized into ETH2.0 and ETH fork segments.
ETH 2.0 Concept Projects
LDO (Lido) vs. RPL (Rocket Pool)
Lido dominates Ethereum's liquid staking with 4M+ ETH staked (90.4% market share). Users deposit ETH to receive 1:1 stETH, a liquid derivative tradable on Curve.
Rocket Pool focuses solely on Ethereum staking. Unlike Lido's DAO-selected validators, Rocket Pool allows anyone to become a node operator with 16 ETH (half of Ethereum's 32 ETH requirement), plus RPL collateral.
Key differences:
- LDO's utility is limited to governance
- RPL acts as network collateral with inherent demand
Despite Rocket Pool's arguably superior design, Lido's first-mover advantage (launched 11 months earlier) cemented its market dominance.
ssv.network
A validator infrastructure (not asset manager) serving:
- Long-term ETH holders prioritizing self-custody
- Staking services like Lido/Rocketpool/Binance
Reduces operational costs and security risks for node operators.
👉 ssv.network secured $10M funding from Coinbase, OKX, and DCG in February 2022.
Obol Technologies
Specializes in Distributed Validator Clusters to prevent single-point failures. Notable points:
- $615K seed round (2021) with ConsenSys/Coinbase backing
- Lido granted $100K for research
- Testnet prototype expected Q2 2022
StakeWise (SWISE)
Unique dual-token model enabling compounded yields:
- sETH2 (staking token)
- rETH2 (rewards token)
Raised $2M in 2021; Blockdaemon partnered in 2022 for institutional staking solutions.
Swell Network
Non-custodial ETH staking protocol collaborating with SSV for distributed validator tech.
- $3.75M seed round (March 2022) led by Framework Ventures
- 4.2% APY on Goerli testnet (286 ETH TVL)
ETH PoW Fork Alternatives (GPU Mining)
ETC: The Original Fork
Ethereum Classic persists as Ethereum's "rebel sibling" since 2016's DAO hack fork.
- Current hash rate: 23.55TH/s (vs. ETH's 881.59TH/s)
- Potential to absorb ETH miners post-Merge
Monero (XMR)
Privacy-focused, ASIC-resistant RandomX algorithm favors CPU/GPU mining.
- 69.75% price surge since June 2022 lows
Ravencoin (RVN)
Fair-launch GPU mineable coin (210B max supply).
- KAWPOW algorithm resists ASIC dominance
- 2.336TH/s network hash rate
FAQ
Q: Why are LDO and ETC surging?
A: Market bets on ETH2.0 adoption (Lido) and PoW continuity (ETC) amid Merge uncertainty.
Q: Can ETH miners switch to ETC/XMR/RVN?
A: Partially—each coin uses different algorithms, but GPUs offer flexibility.
Q: How does SSV differ from Lido?
A: SSV provides validator infrastructure; Lido manages staked ETH directly.
Q: What’s Obol’s innovation?
A: Distributed validator clusters to enhance fault tolerance.
👉 Explore Ethereum's evolving ecosystem as the Merge reshapes mining and staking dynamics.
Market data as of July 2022. Always DYOR.