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

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

After Ethereum's Merge occurs and the blockchain moves to proof-of stake (PoS), a new token forked will be created called Ethereumpow. ETHW core d

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After Ethereum’s Merge occurs and the blockchain moves to proof-of stake (PoS), a new token forked will be created called Ethereumpow. ETHW core developers stated that the ETHW mainnet would be launched within 24 hours of The Merge. In a blog post, the core developer notes that the exact launch time will be announced one hour prior to launch. This includes a countdown clock and all information including final code, binaries as well as config files, nodes data, RPC, explorer, and more. The time will be published once it’s over.

Open letters have been published by the ETHW team to the ETHW community. A blog article published August 29 summarizes some aspects of the project’s goals. The ETHW core team explains the group as a collection of ‘geeks’ and crypto investors from around the globe and that they prefer to remain anonymous. Further details are provided in the post about the motivation behind the efforts of the ETHW core team. Developers also highlight the fact that the regulation of blockchain is ‘ever increasing’, and that Web3 narratives are being seriously strained.

Further, the ETHW core developers state that:

PoS can be a game-changer, but in only bad ways. Nevertheless, PoW has a 12-year track record of being reliable, robust, and censorship-resistant. PoW Ethereum should be maintained. This is a smart decision for people who support openness and free markets.

IOU Market Data: Fork Coin Down 73%. Core Developers Reject the Proposal to Merge Contract-Freezing Code

Everybody who has ethereum ( or ETH), will be able obtain ETHW through the birth of a new ethereum styled fork. If the crypto company confirms the existence of the token, some users will be able to obtain ETHW. In a non-custodial account, ETH holders will be able split their coins in the same way as with ETC. ETHW market data shows that the crypto asset is currently trading at $36.01 per unit. ETHW is 73% below the August 8th all-time high (ATH), which was printed in August 8.

Another community letter reveals that ETHW core developers aren’t willing to freeze liquidity pools for ETHW. The letter clarifies that ETHW core developers rejected the idea of merging the contract freezing code into their main codebase, and they insist that no contract pool on ETHW would ever be restricted.