Ethereum’s Merge created two forked proof-of-work chains, one which is popularly led by Chandler Guo to create ETHPoW and ETHW and the other relatively obscure called EthereumFair, [ETF].
Looks like the lesser-known sister project has finally woken up from its deep slumber as its team announced creating Telegram groups for several languages.
EthereumFair even claimed on Twitter that it was the first PoW currency to break away from the mainnet. This account, which was created in January 2020, has about 14,000 followers.
Despite having a two-year foothold, it is fewer than the just over 15,000 Twitter followers EthPoW has gained since its establishment in July.
EthereumFair is managed by a group of Chinese miners, and its major documentation is available in Chinese. But given that it started creating social media groups in several languages and announced rewards and support, things might change from now onwards.
Its block explorer revealed that ETF has 6.7 million total transactions and 1.8 million wallet addresses.
According to Coingecko.com, the price range for ETF has been between $1.48 and $3.50 per unit, with a $3.43 million global trade volume. The price of ETF reached an all-time high two days ago at $20 per unit and then fell to its lowest level that day at $0.99 per coin.
The coin is currently exchanging hands at $6.43, down 30% over the past 24 hours.
Ethereum Forked Projects Gained Major Adoption
Poloniex, a leading exchange that accepted EthereumFair, announced its initial endorsement “based on the market condition, users’ consensus, and the community.” Later, Poloniex changed the name of ETHF to ETF and added support for ETHW.
Additionally, the coin is now traded on the cryptocurrency exchanges Huobi and BitCoke. ETHW, on other hand is also traded on OKX, XT.COM, Deepcoin, Bybit, and CoinW.
Just recently, the hash rate of the well-known forked coin reached an all-time high of 80.56 terahashes per second [TH/s], before plummeting later and ubsequently losing 53.35% of its hashpower.
That said, a little portion of the hashrate left over from the Merge has been collected by the other forked project EthereumFair. At press time, there are seven nodes specifically dedicated to the network, and its hashrate stood at 7.9 TH/s.