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

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

Ethereum proof-of-work arduous fork will launch 24 hours following the Merge on September 15, in line with a Twitter thread revealed by ETHW.

ETHW is the crew behind the Ethereum PoW arduous fork splinter from the Ethereum mainnet.

Additionally they divulged the exact timing of the fork can be introduced 1 hour earlier than its launch, with all information “together with the ultimate code, binaries, config recordsdata, nodes information, RPC, explorer” to be “made public when the time’s up.”

What’s going to occur to Ethereum PoW post-Merge

The Merge will see the Ethereum mainnet change its consensus mechanism from proof-of-work to proof-of-stake, eradicating the vitality influence from PoW mining. Ethereum miners can be supplanted by validators, which drove miners to launch the Ethereum PoW fork to proceed operating the outdated PoW community.

The PoW and PoS chains will run in parallel post-Merge. If the PoS chain performs effectively and boosts the worth of ETH, it might trigger functions and tokens on the PoW model to lower in worth.

ChainID change

The ETHW crew mentioned the PoW mainnet will begin on the block top of the Merge block and extra 2048 empty blocks as padding to make sure the chainID switches to chainID 10001 efficiently and the chain would be the longest chain of ETHW.

The crew confirmed it’ll use chainID 10001 as a substitute of the present chainID 10002 to distinguish itself and stop replay assaults or duplicate and forge blocks on the 2 chains on the Ethereum mainnet.

Backers of ETHW

A number of exchanges are supporting ETHW and have begun itemizing IOU variations of the ETHW token, together with Gate.io, Phemex, DigiFinex, and CoinW.

If the fork is profitable, IOU ETHW tokens might be swapped for ETHW tokens on a 1:1 foundation after the Merge.

Exchanges which have listed ETHW embody Coinbase, Poloniex, and Bitfinex.

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