About ETHPoW (ETHW)
On September 15, 2022, Ethereum transitioned from PoW to PoS, creating a distinct PoW blockchain, ETHPoW. ETHPoW was created to maintain the PoW mining process for ETH miners. The Merge upgrade replaced them with validators who stake Ether to secure the network, making it more energy-efficient. Before the Merge, ETHW was created as a hard fork of Ethereum that still utilizes the PoW consensus mechanism. This allows ETH miners to continue mining, giving them victory before transitioning to PoS
It appears that a few individuals in the Ethereum network endorse both sides of the consensus algorithm debate. While some users fully supported transitioning to a PoS consensus model, others preferred the PoW model, which was recently phased out and upgraded.
Bitcoin is a proof-of-work cryptocurrency that is designed to be censorship-resistant and trustless. It involves solving a mathematical puzzle and proposing a new block to secure the network. However, to prevent any small group of miners from gaining too much power, many non-colluding miners must process transactions. Similarly, ETHW miners will continue to solve mathematical challenges to validate transactions and mine new tokens to prevent abuse. In return, they will receive ETHW, the native asset to the ETHPoW chain.Â
ETHPoW is known by its token ticker $ETHW. The current price of ETHPoW is updated and available in real-time on Binance.