A day after the Merge, the team behind Ethereum’s PoW fork plans to launch its network

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Last Updated on September 25, 2022 by Bitfinsider

After the Ethereum Merge occurs and the network switches to proof-of-stake (PoS), a new split coin called Ethereumpow will be created (ETHW). The ETHW mainnet will occur within 24 hours of The Merge, according to the ETHW core developers’ announcement on September 12, 2022. The exact time will be announced 1 hour prior to launch with a countdown timer, and everything, including final code, binaries, config files, nodes information, RPC, explorer, etc., will be made public when the time’s up.

The ETHW team has sent open letters to the ETHW community, and a blog post from the project’s staff that was published on August 29 describes some of its goals. According to the ETHW core team, the club consists of “geeks and crypto investors from all over the world,” who have chosen to maintain their anonymity. The ETHW team’s motivations are further explained in the essay, where the developers point out that “Web3 narratives are under serious strain” and blockchain regulation is “ever increasing.”

The ETHW core developers also said the following: “PoS is indeed a game changer, but only in bad ways. Nevertheless, PoW has a 12-year track record of being reliable, robust, and censorship-resistant. It is only prudent to continue a PoW Ethereum, which should be a no-brainer for those who champion openness and the free market as there is no downside.”

Everyone who has ethereum (ETH) will be able to acquire ETHW in some way as a result of the creation of a new ethereum-styled fork. If the crypto firm officially recognizes the new token’s existence, certain users will be able to purchase ETHW via cryptocurrency exchanges. As with Ethereum Classic (ETC), those who possess ETH in a non-custodial wallet will be able to divide their coins. According to ETHW IOU market statistics, the cryptocurrency asset is currently selling for $36.01 per unit. ETHW is down 73% from its All-Time High (ATH), which was recorded on August 8.

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