The group behind EthereumPoW (ETHW), a proof-of-work fork of the Ethereum blockchain, has formally introduced plans to launch its hardfork shortly after the Ethereum Merge on 15 September. This, regardless of a troublesome few weeks since its introduction.
— EthereumPoW (ETHW) Official #ETHW #ETHPoW (@EthereumPoW) September 12, 2022
After the Merge, the ETHW mainnet will launch, according to a tweet from the @EthereumPow account. The thread mentioned that the exact time will likely be publicized with a countdown timer one hour earlier than launch, and every thing, together with the ultimate code, binaries, configuration information, nodes data, RPC, and explorer, will likely be made public when the time expires.
That being mentioned, CoinGecko govt Bobby Ong claims that present miners are inspired to supply a brand new proof-of-work model of ETH.
What to anticipate?
The second-largest blockchain by market worth will transition to a proof-of-stake consensus technique later this week, eliminating the necessity for energy-intensive mining operations.
This motion has sparked a divide within the Ethereum ecosystem as miners focus on forking Ethereum or beginning to mine different blockchains as a result of they’re hesitant to surrender their supply of earnings.
To ensure that the chainID converts to 10001 and that “the chain is the longest…of ETHW,” the ETHW mainnet will launch at “the block top of the Merge block ‘plus’ 2048 empty blocks.”
The primary transactions on ETHW will likely be famous in merge block +2049. Reportedly, “block rewards for the empty blocks could be directed to the 1559 multi-sig pockets.”
Supporters of the Merge declare that the modification will velocity up and save power on the blockchain. The branched community will resemble Ethereum in look and performance, however it should merely be a shadow of the true factor, with currencies and apps floating round with no goal.
Effectively, a number of Ethereum miners intend to proceed utilizing the outdated community.
The forked model of ETHW has already been listed on a number of exchanges, together with Poloniex, Bitfinex, and Coinbase.
Nonetheless, there are critics
Curiously, Justin Solar helps the EthereumPOW token (ETHW), however there are nonetheless issues about how a lot traction it may possibly obtain compared to the well-established Ethereum Traditional, which upholds PoW.
That mentioned, Igor Artamonov, a developer on Ethereum Traditional, and different ETHW critics objected to the concept of launching the EthereumPoW mainnet following the Merge. Igor acknowledged,
“It’s like dropping 90% of momentum simply on launch. And nobody would take it severely if it’s not a steady / continuous chain.”