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Mining

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

Xeggex

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

ETHW is the staff behind the Ethereum PoW onerous fork splinter from the Ethereum mainnet.

They additionally divulged the exact timing of the fork can be introduced 1 hour earlier than its launch, with all information “including the final code, binaries, config files, nodes info, RPC, explorer” to be “made public when the time’s up.”

What will 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 impression from PoW mining. Ethereum miners can be supplanted by validators, which drove miners to launch the Ethereum PoW fork to proceed working the outdated PoW community.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 purposes and tokens on the PoW model to lower in worth.

ChainID change

The ETHW staff 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 staff confirmed it should use chainID 10001 as an alternative of the present chainID 10002 to differentiate itself and forestall replay assaults or duplicate and forge blocks on the 2 chains on the Ethereum mainnet.

Backers of ETHW

Several 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 could be swapped for ETHW tokens on a 1:1 foundation after the Merge.

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

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