EthereumPoW or ETHPoW is a hard fork from the Ethereum blockchain which will continue to work using a proof of work consensus mechanism. The fork results from the Ethereum Merge, which will see the blockchain transition to a proof of stake consensus while the forked ETHPoW chain will continue to operate using a PoW consensus.
Calling itself the “original Proof of Work Ethereum,” EthereumPoW finds support from a group of ETH miners who would suffer losses as Ethereum ditches the PoW model in favor of PoS. The transition following the Merge has caused losses to the ETH mining community, consisting of not only individual miners and mining pools but also dedicated mining organizations.
The forked ETHPoW blockchain will allow miners to continue their mining operations and earn ETHW coins instead of ETH using the dedicated GPUs that were previously mining Ether (ETH). Although Ethereum’s co-founder Vitalik Buterin suggested that ETH miners switch their focus to mining Ethereum Classic (ETC) instead, a group of miners has decided to support the forked EthereumPoW network for this purpose instead.
ETHW is the native cryptocurrency of the ETHPoW chain. It can be mined and used to pay transaction fees using the EthereumPoW network. In addition, miners who participate in the network’s consensus mechanism by validating transactions and producing new blocks can earn rewards in $ETHW for their efforts.
EthereumPoW will copy the state of Ethereum at the time of its PoW hard fork. The ETHPoW mainnet will go live 24 hours after the Merge, which means the network will officially launch on 16 September 2022.
The ETHPoW mainnet will start from the block height of the Merge block plus 2048 empty blocks as padding. This will ensure that the ChainID switches to 10001 and remains the longest chain for ETHW. The Merge block of the Ethereum blockchain + 2049 will become the first official block for the ETHW coin when the EthereumPoW mainnet goes live.
The network’s backers have set the mining difficulty at around 220 T or a hashrate of 15 TH/s at a minimum. The team behind the blockchain maintains that the PoW chain ETHW will function as the backbone to support Web3 development.
The core team behind the project will prepare a copy of the Ethereum blockchain till the Merge, test the chain ID switches, and ensure accurate communication and synchronization between full nodes and light nodes in the network. The team has confirmed that it will offer an accurate countdown for the mainnet launch 1 hour before the event is scheduled to occur after ensuring everything is in order.
With Ethereum transitioning to a proof of stake consensus, miners who were previously involved in validating transactions and producing new blocks in the proof of work consensus will no longer be able to contribute and mine ETH coins. After investing in expensive GPU mining equipment, they stand to suffer severe losses following the Merge.
The idea for EthereumPoW came about as a way to salvage these mining rigs and operations and continue using them. Although Ethereum’s co-founder Vitalik Buterin recommended that ETH miners switch to mining ETC, a group of miners and prominent backers want to continue Ethereum’s PoW network, hence the idea to launch an EthereumPoW fork.
The ETHPoW fork finds support from leading ETH miners Chandler Guo and TRON’s founder Justin Sun. Poloniesx, a DEX backed by Justin Sun, has confirmed that it will be the first platform to list the ETHW crypto. In addition, the exchange has announced support for all potential ETH tokens forked from Ethereum.
The ETHW Core team published the EthereumPoW testnet on 26 August 2022. The project intends to sustain a Pow-powered Ethereum ecosystem for decentralized applications (dApps).
It is too soon to make an accurate ETHPoW price prediction considering the coin has not yet gone live or been listed on top exchanges. However, after the launch, one of the most vital factors that can support the ETHW price is that the project is backed by prominent people, including established ETH miners, TRON’s founder Justin Sun, and even major Ethereum mining pools.
This could instill confidence in dApp developers to design and deploy dApps on the EthereumPoW chain, contributing to higher on-chain activity. With time, as the adoption of its PoW ecosystem picks up among crypto projects, the ETHPoW price could make gains and become an exciting crypto asset to include in your portfolio.
Looking ahead, the EthereumPoW price could also climb higher as more miners sign up to mine ETHW and contribute to the consensus mechanism in securing the proof of work blockchain. If the ETHPoW chain copies app states from the Ethereum blockchain, it could enjoy higher on-chain activity and liquidity, further boosting the ETHW price statistics.
If more dApps and exchanges support the ETHPoW hard fork, the value of ETHW crypto could also head higher. However, the acceptance process could take some time, especially with most of the crypto market focused on the Ethereum PoS transition event.
ETHW is the native cryptocurrency of the EthereumPoW ecosystem. It serves the following purposes:
ETHW crypto can be used to pay transaction fees when using the EthereumPoW chain. You can pay gas fees in ETHW when using the network to make payment transfers, interact with dApps, or execute smart contracts.
You can mine ETHW coins by contributing to block production and transaction validation on the PoW ETHPoW blockchain. All transactions on the blockchain must be verified and recorded into new blocks. In the process, new $ETHW coins get mined, a portion of which you will receive as rewards for your efforts.
You can trade ETHW on supported exchanges and platforms. Buy or sell EthereumPoW against other cryptocurrencies based on market conditions to grow your portfolio.
Review the real-time EthereumPoW price, ETHPoW market cap, ETHW circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the ETHW price chart before you trade ETHPoW in the market. You can also invest in ETHPoW and hold it long-term if you believe in the future potential of the ETHPoW project.
At the time of launch, the circulating supply of ETHW coin will match that of ETH as its blockchain EthereumPow emerges from a hard fork of the Ethereum network. However, as the crypto can be mined, its circulating supply could grow faster than Ether or ETH in the future.
The gap between the circulating supply of ETHW and ETH would further widen as Ethereum PoS plans to slow down its inflationary mechanism and make it harder to create new ETH tokens.
The EthereumPoW mainnet is scheduled to launch 24 hours after the Ethereum Merge. The ETHPoW mainnet and ETHW coin will launch on 16 September 2022.
Further details on the exact time of launch will be shared by the ETHW Core team 1 hour before they are ready to go live.
You can mine $ETHW using the same GPU mining rig used formerly to mine Ethereum (ETH) or for mining Ethereum Classic (ETC). However, investing in a mining rig can be expensive, especially if you lack the capital.
A more convenient way to mine ETHW is by joining a mining pool and contributing your computing resources to a shared pool. The rewards earned by the mining pool will be distributed proportionally to the participants based on the number of resources each member contributes.
Major Ethereum mining pools have already committed to supporting ETHW mining. You can choose from f2pool, poolin, BTC.com, or even use the ETHW backup mining pool Ethwmine.
Create an account and link your wallet to configure and get started. Participate in the mining process and earn rewards in $ETHW coins for your contribution.