Market Analysis Report (13 Sep 2022)

The team behind EthereumPoW (ETHPOW), a Proof-of-Work network that could be created through a fork of the Ethereum network at the time of the Merge upgrade, has announced its plans to launch its separate chain.

A Twitter account representing the project has posted a tweet saying the “ETHW mainnet will happen within 24 hours after the Merge,” and added:

“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 Merge describes the Ethereum network’s current mainnet merging with the Beacon Chain’s PoS system, setting the stage for future scaling upgrades, including sharding. The move is expected to reduce Ethereum’s energy consumption by 99.95%.

The move will effectively force miners who have invested heavily in equipment to mine other networks. Several exchanges have expressed interest in listing the ETHPOW token, while others have already listed IOUs of those tokens.

The ETHPOW mainnet will launch 2,048 empty blocks after the Merge block, in a bid to ensure that the ChainID, which differentiates blockchains, switches successfully.