EthereumPoW (ETHW) is a hard fork of the Ethereum blockchain that retains the original Proof of Work (PoW) consensus mechanism. It was created following Ethereum's transition to Proof of Stake (PoS), aiming to allow miners to continue mining using their existing hardware and maintaining the traditional PoW model.
EthereumPoW operates on the Proof of Work consensus mechanism, similar to the original Ethereum blockchain. In this system, miners compete to solve complex mathematical puzzles to validate transactions and add new blocks to the blockchain. ETHW continues to use the Ethash algorithm, requiring computational power to solve the blocks and rewarding miners for their efforts.
EthereumPoW can support various decentralized applications (DApps) and industries, similar to Ethereum. Potential use cases include:
EthereumPoW was proposed by Ethereum miners, led by figures like Chandler Guo, as a response to the network's transition to PoS. The ETHW mainnet launched on September 15, 2022, closely following Ethereum’s Merge, to preserve the PoW mechanism. Initially, ETHW was credited to ETH holders at a 1:1 ratio by several exchanges. Since its inception, the platform has experienced significant market challenges, but it remains a showcase for supporting traditional mining communities within the broader crypto landscape.