EthereumPoW (ETHW) is a cryptocurrency that emerged from a significant event in the blockchain world: the hard fork of the original Ethereum network. Created to preserve the Proof-of-Work (PoW) consensus mechanism after Ethereum’s transition to Proof-of-Stake (PoS), ETHW represents a continuation of the mining-based ecosystem. This guide provides a comprehensive overview of ETHW, including its price dynamics, technical foundations, and how it differs from its PoS counterpart.
What Is EthereumPoW (ETHW)?
EthereumPoW is a community-driven initiative that launched following "The Merge," Ethereum's shift to PoS on September 15, 2022. As this upgrade rendered traditional GPU mining obsolete, a group of developers and miners, led by Chandler Guo, formed ETHW Core. This group executed a hard fork, creating a new blockchain that continues to operate on the energy-intensive Proof-of-Work consensus.
The snapshot for the new network was taken at the Merge block. Every user holding ETH on the Ethereum blockchain before the fork became eligible to claim an equivalent amount of ETHW, the native token of this new chain, on the ETHPoW network using wallets like Metamask.
Key Technical Features of the ETHW Network
The ETHW Core development team aimed to maintain maximum compatibility with the pre-Merge Ethereum state while ensuring the new chain's sustainability. Consequently, most features remain unchanged, but several key adjustments were made:
- The difficulty bomb, designed to gradually make PoW mining on Ethereum more challenging, has been disabled.
- The base fee from EIP-1559 transactions is distributed to miners instead of being burned.
- The core plans to continue supporting 4G GPUs by managing the DAG size.
- There are no immediate plans to alter the mining algorithm to be ASIC-resistant.
For developers and users, the network parameters are:
- Network Name: ETHW-mainnet
- RPC URL: https://mainnet.ethereumpow.org
- Chain ID: 10001
- Currency Symbol: ETHW
- Block Explorer URL: https://www.oklink.com/en/ethw
EthereumPoW vs. Ethereum: Key Differences
The most fundamental difference lies in their consensus mechanisms. Ethereum now uses Proof-of-Stake (PoS), where validators secure the network by staking ETH. EthereumPoW continues to use Proof-of-Work (PoW), relying on miners and physical hardware.
This divergence leads to a critical difference in tokenomics and inflation. Post-Merge, Ethereum's PoS system has a significantly lower inflation rate due to the elimination of block rewards to miners. In contrast, if ETHW continues to be actively mined, its supply will grow at a faster rate, creating a different economic model for the two assets. 👉 Explore more strategies for tracking assets across chains
Tracking EthereumPoW (ETHW) Price and Market Data
The price of ETHW is determined by market forces on various cryptocurrency exchanges where it is listed and traded. Like all cryptocurrencies, its value is subject to volatility driven by factors such as:
- Overall crypto market sentiment.
- Trading volume and liquidity on major platforms.
- Developments and updates from the ETHW Core team.
- Broader adoption and use cases for the ETHW chain.
To get the most accurate and real-time price information, viewers should consult live charts that track the ETHW to USD pair, along with other key metrics like market capitalization and 24-hour trading volume.
Frequently Asked Questions
What is the main purpose of EthereumPoW (ETHW)?
ETHW was created to provide an alternative for the Ethereum mining community after the original blockchain transitioned to Proof-of-Stake. It aims to preserve the Proof-of-Work consensus mechanism, allowing miners to continue their operations and users to engage with a Ethereum-like chain that maintains the pre-Merge state.
How could I claim my ETHW tokens?
If you held ETH in a self-custody wallet (like Metamask or a hardware wallet) at the time of The Merge, you were eligible to claim an equivalent amount of ETHW on the new chain. This process typically involved adding the ETHW network to your wallet and often required interacting with a claim portal or a supporting exchange to access the forked tokens.
How does the future supply of ETHW differ from ETH?
The supply dynamics are fundamentally different. Ethereum's PoS chain has a much lower inflation rate. The ETHW chain, if mining continues, will have a higher emission rate due to ongoing block rewards paid to miners, meaning its total supply will grow faster than Ethereum's over time.
Is ETHW the same as Ethereum Classic (ETC)?
No, they are distinct projects. Ethereum Classic (ETC) is the product of a much earlier fork from Ethereum in 2016, following The DAO hack. EthereumPoW (ETHW) is a result of the 2022 fork following Ethereum's transition to Proof-of-Stake.
Where can I trade or sell ETHW?
ETHW is traded on several cryptocurrency exchanges. It is essential to use a reputable platform that supports the ETHW token specifically. Always ensure you are sending and receiving tokens on the correct network (ETHW-mainnet) to avoid permanent loss of funds.
What are the risks associated with investing in ETHW?
As a relatively new and smaller network, ETHW carries risks including higher volatility, potential lower liquidity compared to major assets, and uncertainty regarding its long-term development, security, and adoption within the broader cryptocurrency ecosystem.