ETHW Core to push on with Ethereum PoW fork 24 hours after Merge

ETHW Core to push on with Ethereum PoW fork 24 hours after Merge

ETHW Core plans to split off from the main ETH blockchain and maintain a PoW version to keep ETH mining alive beyond The Merge.

The long-awaited Ethereum Merge is just around the corner, but not everyone is excited about the major upgrade. A group calling themselves ETHW Core has voiced its opposition to the change and is set to conduct a hard fork within 24 hours after the Merge. 

Under the project name, ETHPoW and with the token ETHW, ETHW Core plans to split off from the main ETH blockchain and maintain a PoW version to keep ETH mining alive beyond the Merge.

“ETHW mainnet will happen within 24 hours after the Merge. The exact time will be announced 1 hour before launch with a countdown timer and everything including final code, binaries, config files, nodes info, RPC, explorer, etc. will be made public when the time’s up,” the group wrote in a Tuesday tweet.

The Merge will shift the Ethereum network away from its current proof-of-work (PoW) mining model to a proof-of-stake (PoS) consensus mechanism, phasing out miners and replacing them with validators.

In their Aug. 29 open letter explaining their motivations, the group outlined why in their opinion, “PoS is indeed a game changer, but only in bad ways:”

Coinbase Cloud protocol specialist Viktor Bunin reportedly contacted the ETHW Core for clarification on the issue. The result of the query was not posted.

If all goes to plan, the Ethereum Merge is currently less than a day away.

At the time of writing, the ETHPoW token is trading at $29.71 but only exists as a futures ticker, conceived in anticipation of the upcoming fork. The price of Ether (ETH) currently sits at $1,599, down 2.26% over the past seven days.

Rate article
( No ratings yet )
×