EthereumPoW (ETHW) offers miners continued PoW mining amid Ethereum's transition to PoS. More
| Fully Diluted Valuation | $181.47M |
|---|---|
| 24H Trading Volume | $12.52M |
| 24H Low / High | $1.62 / $ 1.76 |
| Circulating Supply | 107.82 M |
| Total Supply | 107.82 M |
| Max Supply | ∞ |
| Categories | EthereumPoW Ecosystem 2 more |
|---|---|
| Founder | Vitalik Buterin |
| Website | ethereumpow.org |
| Socials | 4 more |
| Explorer | Oklink 1 more |
| Name | Pair | OG Score |
|---|
EthereumPoW (ETHW) Emerges as a Continuation of Ethereum's Proof-of-Work Era
As Ethereum makes its highly anticipated transition to a proof-of-stake (PoS) consensus mechanism, a group of miners and community members has come together to create EthereumPoW (ETHW), a hard fork of the Ethereum network.
Catering to PoW Advocates: EthereumPoW's Purpose and Motivation
This fork is designed to cater to those who wish to continue mining using the traditional proof-of-work (PoW) consensus algorithm, rather than switching to PoS.
Support from Key Figures and Platforms
The motivation behind EthereumPoW stems from the concerns of miners who have heavily invested in mining equipment and operations, only to face potential losses as Ethereum transitions to PoS.
Continuity for Miners: EthereumPoW's Solution
By forking the Ethereum blockchain, EthereumPoW allows miners to continue using their GPU mining rigs to validate transactions and mine new tokens, rewarding them with ETHW, the native asset of the ETHPoW chain.
Backed by Influential Figures: Chandler Guo and Justin Sun
One of the key figures supporting EthereumPoW is Chandler Guo, a prominent ETH miner, along with TRON's founder, Justin Sun.
First Platform Support: Poloniex's Endorsement
Poloniex, a leading decentralized exchange (DEX) backed by Justin Sun, has already announced its support for ETHW, confirming that it will be the first platform to list the new cryptocurrency.
Project Goals and Vision
The EthereumPoW team has outlined several goals for the project, including maintaining PoW and the Nakamoto Consensus mechanism, abolishing EIP-1559, and eventually achieving complete autonomy and self-sustainability for the network.
Mainnet Launch and Technical Details
The EthereumPoW mainnet is set to go live on 16 September 2022, 24 hours after the Ethereum Merge.
Role in Web3 Development: The Backbone for Future Growth
The merge block of the Ethereum blockchain plus 2049 blocks will mark the first official block for the ETHW coin on the new network. The network's backers have set the mining difficulty to ensure a hashrate of at least 15 TH/s, emphasizing its role as a backbone for supporting Web3 development.
Continued Growth: EthereumPoW's Contribution to the Ecosystem
In conclusion, EthereumPoW represents a continuation of Ethereum's PoW era, providing a viable option for miners and community members who wish to retain the PoW consensus mechanism. With its launch imminent, EthereumPoW aims to provide a seamless transition for miners and developers, ensuring the continued growth and development of the Ethereum ecosystem.
EthereumPoW (ETHW) is unique for its commitment to maintaining Ethereum's original Proof-of-Work (PoW) consensus mechanism, offering miners a continued opportunity to participate in transaction validation and token mining amidst Ethereum's transition to Proof-of-Stake (PoS).
EthereumPoW (ETHW) is a community-driven project supported by individuals worldwide who advocate for the PoW consensus mechanism. While Ethereum was originally founded by Vitalik Buterin and a team of developers, the specific founders of EthereumPoW are not explicitly mentioned in the provided information.
EthereumPoW (ETHW) has garnered support from notable figures such as Chandler Guo, a prominent ETH miner, and TRON's founder, Justin Sun. Poloniex, a leading decentralized exchange (DEX) backed by Justin Sun, has also expressed support for ETHW.
EthereumPoW (ETHW) operates on a Proof-of-Work (PoW) consensus mechanism, allowing miners to validate transactions and mine new tokens using GPU mining rigs. This contrasts with Ethereum's transition to Proof-of-Stake (PoS), making EthereumPoW an alternative for those who prefer PoW.
You can buy EthereumPoW (ETHW) on MEXC, Gate.io, Bitget, Bybit, OKX cryptocurrency exchanges.
