With the Ethereum merge set to debut next month, a lot is set to happen. According to the Japanese cryptocurrency exchange BitBank, deciding whether to list Ethereum PoW has not yet been made (ETHW). It must first assess any potential regulatory problems before deciding whether or not to list the coin. regulatory issues.
Defiant cryptocurrency miners created a proof-of-work Ethereum alternative in early August in anticipation of the upcoming merge update. The ETHW cryptocurrency initially managed to gain some popularity, and Poloniex was one of the first exchanges to support it. Additionally, BitMEX introduced a futures contract for the token’s proof-of-work iteration.
When Ethereum Merge?
The full switchover of ETH to proof-of-stake will take place at the merge event, which is planned for mid-September. ETH miners will be setback and suffer a major financial revenue stream loss. After the integration, stakeholders will be responsible for securing the network.
The PoW-supporting token attracted a lot of interest at the beginning of August, but its value has fallen significantly as the merge event approaches. Data from CoinMarketCap shows that it is currently trading at $50.66.
It is significant to recall that the ETHW token has not been deployed yet. In the main event, its supporters intend to properly fork the main chain. Several exchanges have decided to list the coin in advance in order to capitalize on the enthusiasm.
Chandler Guo, an ETH miner who is leading the initiative to fork the Ethereum chain, tweeted earlier this August that ETHW was “coming soon.” The new fork may struggle to get enough supporters given that Ethereum Classic has already received Vitalik Buterin’s endorsement and is a “very excellent chain.”
On September 15 or 16, the network will switch to proof-of-stake consensus. There is no assurance that this timeline is set in stone, as any additional delays are possible.