What is Ethereum PoW?
After the Ethereum Merge, EthereumPoW (ETHW) is a promising hard fork of the Ethereum blockchain. The Merge will see Ethereum move to proof-of-stake, while the forked version will continue to use proof-of-work.
EthereumPoW calls itself “the original Proof of Work Ethereum, developed and ran by the community.” On the other hand, the “original” Ethereum would be Ethereum Classic, the first Ethereum blockchain that maintained the chain's original state after the infamous “The DAO” Hack.
ETHW is supported by an unidentified (in number and name) group of ETH miners who stand to lose if the switch to PoS is implemented. According to Messari, the Ethereum mining industry is worth an estimated $19 billion and will be rendered obsolete by the switch to PoS. Furthermore, miners cannot simply switch to Bitcoin, which is mined with ASICs, because Ethereum is mined with dedicated GPUs.
Ethereum founder Vitalik Buterin said ETC was an alternative for ETH miners. Miners are committed to the fork. Prominent supporters include Tron founder Justin Sun and ETH miner Chandler Guo. Poloniex, backed by Justin Sun, was the first exchange to list ETHW.
On its PoW hard fork, EthereumPoW intends to replicate the state of Ethereum. However, at the time of writing, it was unclear whether this meant simply copying the chain state — allowing DApp developers and stablecoin issuers to choose which Ethereum chain to support — or copying the app states, which would double the DApps and liquidity on Ethereum to EthereumPoW.
Ethereum PoW Website
