According to ETHW developers, The Merge will take place in less that two days. However, the Ethereum proof of work (PoW fork) is scheduled to go live within 24 hours. ETHW was exchanged for $141 per unit on August 8, 2022 and is currently 73% lower in USD.
24 hours after the Merge, ETHW Mainnet will be launched
After Ethereum's Merge occurs and the blockchain moves to proof-of–stake (PoS), an Ethereumpow (ETHW) forked token will be created. ETHW core developers stated that the ETHW mainnet would take place within 24 hours of The Merge. The blog post also noted that there will be a countdown clock and all details, including final code, binaries, configs, nodes information, RPC, explorer, and more. When the time is up, it will be made publicly.
Open letters have been published by the ETHW team to the ETHW community. A blog post was published on August 29 that 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 about the motivation behind the ETHW core team's efforts. The developers also highlight the fact that "web3 narratives" and blockchain regulation are "ever increasing".
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.
Core Developers Reject a Proposal to Merge Contract-Freezing Code, IOU Market Data Shows That Fork Coin is Down 73%
Everybody who has ETH (ethereum) can now get ETHW through the birth of a new ethereum fork. If the crypto company confirms the existence of the token, some users will be able to obtain ETHW. People who have ETH in a noncustodial wallet can split their coins the same way as with ethereum classical (ETC). According to ETHW IOU market data, the crypto asset trades at $36.01 per unit. ETHW is 73% below the August 8th all-time high (ATH), which was printed in market data.
Another community letter from ETHW core developers reveals that they do not want to freeze ETHW liquidity pool. The letter clarifies that "ETHW core developers rejected the proposal to merge contract freezing code into main codebase and insisted no contract pool on ETHW would ever be restricted in anyway."
What do you think of the ETHW fork that will launch following The Merge? Please comment below to let us know your thoughts on this topic.
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By: Jamie Redman
Title: Team Behind Ethereum’s PoW Fork Aims to Launch Network 24 Hours After The Merge
Sourced From: news.bitcoin.com/team-behind-ethereums-pow-fork-aims-to-launch-network-24-hours-after-the-merge/
Published Date: Tue, 13 Sep 2022 14:00:30 +0000
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