Everything We Know About The Forked Ethereum- ETHW
Ethereum 2.0 which is officially known as Ethereum Merge was completed in September
A lot of anticipated curiosity trailed the plan to fully upgrade the Ethereum blockchain to a Proof-of-Stake blockchain network. This phenomenal event was widely acclaimed as successful and it created a fork (a diversion) in the chain with a new coin - ETHW.
What Is EthereumPoW (ETHW)?
ETHPoW is the proof-of-work blockchain forked from Ethereum that went live shortly after Ethereum transitioned to proof-of-stake (PoS) last month.
The EthereumPoW network is a fork of the Ethereum network. In simple terms, a fork changes the functionality of the blockchain network drastically.
Why Was ETHW Created?
EthereumPoW was born because a small but vocal section of the Ethereum community of developers believes that the network should remain a proof-of-work consensus mechanism. Many of these miners chose to hold onto their revenue as Ethereum switched to the proof-of-stake mechanism on September 15, 2022.
Is ETHW a Coin or Token?
According to the FAQs on the ETHW Medium page, ETHW is a native token of a public chain, not an ERC20 token, hence NO contract address.
The Tokenomics
Although there's no information on the coin's circulating supply on popular crypto sites such as Coingecko or Coinmarketcap, information on the ETHW Medium blog page shows that there was an Airdrop for those who held ETH and the snapshot was taken at the Merge block height 15537393. This means that all holders of ETH coins before the merge got the same value for ETHW across numerous wallets. This was also implemented on Vibra.
What is The Current Market Cap?
Since there are currently no means of tracking the total circulating supply, estimating the market cap is not yet possible. However, data on Coinmarketcap shows that there's a total supply of 122.44M ETHPW which gives it an estimated $1.38 billion FDV (Fully Diluted Valuation) at its current market price.
How is the Coin Performing?
Since the launch, there have been over 1.7 billion transactions. The total number of addresses holding ETHW now stands at over 254 million.
How Many Projects are Currently in ETHW Ecosystem?
In the short time since the launch of the EthereumPoW network, several projects have begun supporting the ecosystem.
According to information on the website, there are about 50 projects already BUIDLing on the network.
Mining pools, which have switched to other networks following Ethereum's transition to a proof-of-stake, have also begun mining ETHW.
Who are the Core Team?
The ETHW Core members are computer geniuses and crypto investors from all over the world who believe in proof of work (PoW). It was this belief that rallied the believers into a community where members volunteered to work on ETHW.
What Hard Wallet Supports ETHW?
So far, the decentralised wallets that support EthereumPOW are Metamask, Bitkeep and DID wallet.
Where Can I Buy and store ETHW?
Vibra currently supports EthereumPOW. You can buy or trade the coin with USDT purchased from a peer-to-peer merchant and exchange it for ETHW in a few clicks.
Disclaimer: Information given here is just for educational purposes therefore, it should not be construed as financial advice. You are advised to do your own due diligence before you take any financial action.
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