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

The Merge should take less than two days. According to ETHW developers the Ethereum proof of work (PoW), fork will go live within 24 hours. ETHW was exchanged for $141 each unit on August 8th 2022 and is currently 73% less in USD.

24 hours after the Merge, ETHW Mainnet will be launched

After Ethereum’s Merge takes place and the blockchain transitions to proof-of-stake (PoS), a new forked token will be born called Ethereumpow (ETHW). On September 12, 2022, ETHW core developers announced “ETHW mainnet will happen within 24 hours after The Merge.” The core developer’s blog post notes the “exact time will be announced 1 hour before launch with a countdown timer and everything including final code, binaries, config files, nodes info, RPC, explorer, etc. will be made public when the time’s up.”

The ETHW team has published open letters to the ETHW community and a blog post published on August 29 summarizes some of the project’s intentions. The ETHW core team explains that the group is a bunch of “geeks and crypto investors from all over the world” and they are choosing to remain anonymous. The post further details the rationale behind the ETHW team’s efforts, and the developers highlight that blockchain regulation is “ever increasing” and “Web3 narratives are under serious strain.”

Further, the ETHW core developers state that:

PoS does indeed have the potential to change everything, however it is not a good thing. Nevertheless, PoW has a 12-year track record of being reliable, robust, and censorship-resistant. PoW Ethereum should continue to be used. This is a smart decision for people who support openness and free markets.

Core Developers Reject a Proposal for Merge Contract Freezing Code, IOU Market Data Reveals Fork Coin Down 73%

Everyone who holds ETH will now be able get it in one way or another with the new Ethereum-styled Fork. If the cryptocurrency company codes the existence of this token, then some users can get ETHW. Anyone holding ETH will be able split the coins in the same way as with ethereum classical (ETC) if they have a non-custodial account. According to ETHW IOU market data, the cryptocurrency asset trades at $36.01 per unit. ETHW traded at $36.01 per unit, 73% less than its August 8th all-time record (ATH).

Another community letter reveals that ETHW core developers aren’t willing to freeze ETHW liquidity pool. “[ETHW core developers] rejected the proposal to merge the contract freezing code into the main codebase and insisted that no contract pool on the ETHW would be restricted in any way,” the letter clarifies.

How do you feel about The Merge’s ETHW fork? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 6000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.