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EthereumPoW Hard Fork Plans Revealed Amid Ethereum's Transition to Proof-of-Stake

EthereumPoW announces plans to hard fork the Ethereum network to maintain Proof-of-Work (PoW) consensus following the upcoming Merge to Proof-of-Stake (PoS).
Published on 2022-09-13

Ethereum’s Transition to Proof-of-Stake (PoS)

Ethereum’s highly anticipated transition to Proof-of-Stake (PoS), known as the Merge, is set to go live on September 15. This upgrade will shift the network’s consensus mechanism from Proof-of-Work (PoW) to PoS, marking a significant milestone in Ethereum’s scalability and energy efficiency.

EthereumPoW Hard Fork Plans

However, a group of developers and miners, led by Chandler Guo, has announced plans to hard fork the Ethereum network to preserve the PoW consensus. This fork, called EthereumPoW (ETHW), aims to allow miners to continue operating on a PoW-based Ethereum chain.

The EthereumPoW mainnet is scheduled to launch within 24 hours after the Merge. The exact timing will be announced one hour before launch, along with the release of final code, binaries, and other necessary details. The fork will start 2,048 blocks beyond the Merge block to ensure a smooth transition and prevent duplicate blocks on both chains.

Support for EthereumPoW

The EthereumPoW project has gained significant traction, particularly among miners who stand to lose revenue post-Merge. Prominent figures like Justin Sun, founder of Tron, have shown strong support for ETHW. Sun has reportedly purchased millions of dollars worth of ETH ahead of the Merge and is advocating for the fork to sustain PoW on Ethereum.

Several cryptocurrency exchanges, including Poloniex, Bitfinex, and Coinbase, have expressed interest in listing ETHW, further legitimizing the fork.

Counterpoints and Implications

Not everyone is optimistic about EthereumPoW’s success. Anthony Di Lorio, one of Ethereum’s co-founders, believes the migration to PoS will push PoW hard forks to the periphery of the ecosystem. Additionally, challenges such as compatibility with NFTs and broader adoption remain uncertainties for ETHW.

Why This Matters

The EthereumPoW hard fork represents a contentious yet significant development in the blockchain space. For miners, it offers a lifeline to continue profitable operations on a PoW-based Ethereum chain. Investors and traders are also closely watching the situation, as the fork could create new opportunities and risks in the cryptocurrency market.

As the Merge approaches, the success of EthereumPoW will depend on community support, technical execution, and market adoption. Stay tuned for further updates as this story unfolds.

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