Team Behind Ethereum’s PoW Fork Aims to Launch Network 24 Hours After The Merge

While The Merge is expected to instrumentality spot successful little than 2 days, the Ethereum proof-of-work (PoW) fork is scheduled to spell unrecorded 24 hours aft the transition, according to ETHW developers. On August 8, 2022, ETHW exchanged hands for $141 per portion and contiguous the crypto plus is down 73% little successful USD value.

ETHW Mainnet to Launch 24 Hours After The Merge

After Ethereum’s Merge takes spot and the blockchain transitions to proof-of-stake (PoS), a caller forked token volition beryllium calved called Ethereumpow (ETHW). On September 12, 2022, ETHW halfway developers announced “ETHW mainnet volition hap wrong 24 hours aft The Merge.” The halfway developer’s blog post notes the “exact clip volition beryllium announced 1 hr earlier motorboat with a countdown timer and everything including last code, binaries, config files, nodes info, RPC, explorer, etc. volition beryllium made nationalist erstwhile the time’s up.”

The ETHW squad has published unfastened letters to the ETHW assemblage and a blog post published connected August 29 summarizes immoderate of the project’s intentions. The ETHW halfway squad explains that the radical is simply a clump of “geeks and crypto investors from each implicit the world” and they are choosing to stay anonymous. The station further details the rationale down the ETHW team’s efforts, and the developers item that blockchain regularisation is “ever increasing” and “Web3 narratives are nether superior strain.”

The ETHW halfway developers further state:

PoS is so a crippled changer, but lone successful atrocious ways. Nevertheless, PoW has a 12-year way grounds of being reliable, robust, and censorship-resistant. It is lone prudent to proceed a PoW Ethereum, which should beryllium a no-brainer for those who champion openness and the escaped marketplace arsenic determination is nary downside.

IOU Market Data Shows Fork Coin Is Down 73%, Core Devs Choose to Reject Proposal to Merge Contract Freezing Code

The commencement of a caller ethereum-styled fork means everyone who owns ethereum (ETH) volition beryllium capable to get ETHW successful immoderate fashion. Some users volition get ETHW from crypto exchanges if the crypto institution codifies the beingness of the caller token. People holding ETH successful a non-custodial wallet volition beryllium capable to divided their coins arsenic they did with ethereum classical (ETC). At the clip of writing, ETHW IOU market data indicates the crypto plus is trading for $36.01 per unit. ETHW is down 73% little than the all-time precocious (ATH) printed connected August 8.

In different community letter, ETHW halfway devs uncover that they are not consenting to frost ETHW liquidity pools. “[ETHW halfway developers] rejected the connection to merge the declaration freezing codification into the main codebase and insisted that nary declaration excavation connected the ETHW would beryllium restricted successful immoderate way,” the missive clarifies.

What bash you deliberation astir the ETHW fork expected to motorboat aft The Merge? Let america cognize what you deliberation astir this taxable successful the comments conception below.