Cryptocurrency

Ethereum Proof-of-Work fork set to launch 24 hours post-Merge

Zegex

Ethereum’s Proof of Work hard fork will begin 24 hours after the September 15th merge. twitter thread Issued by ETHW.

ETHW is the team behind Ethereum PoW Hard Fork Splinter from Ethereum Mainnet.

They also stated that the exact timing of the fork will be announced an hour before launch, and that all data “including final code, binaries, config files, node information, RPCs, explorers” will be made public “when the time is up.” It will be done.

What will happen to Ethereum PoW after the merge?

In the merge, Ethereum mainnet will switch its consensus mechanism from Proof of Work to Proof of Stake, removing the energy impact of PoW mining. Ethereum miners were replaced by validators, and miners started launching Ethereum PoW forks to keep the old PoW network running.

The PoW chain and PoS chain will run in parallel after merging. If the PoS chain works well and the value of ETH increases, the value of the PoW version of the application and the token may decrease.

Chain ID switch

The ETHW team said that the PoW mainnet will start with the block height of the Merge block, chainID will successfully switch to chainID 10001, and an additional 2048 empty blocks as padding to make the chain the longest chain in ETHW. I said I will.

The team observed using chainID 10001 instead of the current chainID 10002 to distinguish themselves and prevent replay attacks as well as duplication and counterfeiting of blocks from the two chains on Ethereum mainnet.

Supporters of ETHW

Several exchanges support ETHW and have started listing IOU versions of the ETHW token, including Gate.io, Phemex, DigiFinex and CoinW.

If the fork is successful, IOU ETHW tokens can be exchanged for ETHW tokens on a 1:1 basis after the merge.

Exchanges that list ETHW include Coinbase, Poloniex and Bitfinex.

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