The long-awaited Ethereum [ETH] The merger is just around the corner. However, the mining community continues to look for new alternatives to keep their operations running.
While several miners are entering other networks like Ethereum Classic [ETC] and Rabcoin [RVN], some are on the side of a hard fork, Ethereum PoW. Recently, the ETHW community published an open letter addressed to the Ethereum community regarding certain decisions and updates to their plan.
Pumped and done
As the ETHW community builds their ecosystem, they announced that no ETHW contract pool will be restricted in any way. The community further opposed the idea of integrating contract freezing technology into the main core.
In addition, the letter also mentioned absolute compliance with the current ETHW Ledger and the absence of any centralized or regulated technology. Interestingly, the ETHW community also stated that they would welcome wallets from any user. This includes ordinary wallets, on-chain multi-signature wallets, and even hacker wallets.
Should another DAO-like situation arise in the near future, ETHW has made its intentions clear. This includes not rolling back the ledger, which happened earlier when ETH was created.
ETHW Core: An open letter to the Ethereum community [2/9]:
Final decision on whether to freeze ETHW liquidity pools#ethw $ethw #eth $eth #ethereum #ethereummerge #ethpow #ethereumfork
1/n pic.twitter.com/YntDFD1Oqa
— EthereumPoW (ETHW) Official #ETHW #ETHPoW (@EthereumPoW) September 8, 2022
Not everything is fine
MarkerDAO recently released a new document highlighting the potential threats that could come with the merger. A new PoW token could also be created.
Once the merge takes place, a forked Ethereum PoW chain seems imminent, with a non-zero probability that it will use the same ChainId as the PoS chain.
What is the impact of this risk on Maker Protocol, Dai and MKR holders?
🧵↓
1/
— Maker (@MakerDAO) September 8, 2022
Additionally, when forked tokens are created, they increase the likelihood of a replay attack. In a replay attack, a transaction is taken from one network and used on another network.
The forked Ethereum PoW network can be reflected in the Ethereum PoS network if they share the same ChainId. The ETHW also referred to this station in a recent tweet.
About Chain ID, EIP155 and Replay Attack –
EIP-155 https://t.co/ONtfEjebLf
The hard fork that EIP-155 implemented – https://t.co/WXRmvCVA1L
EIP-3788 – https://t.co/rxOGRRqRcr
1/n
— EthereumPoW (ETHW) Official #ETHW #ETHPoW (@EthereumPoW) September 9, 2022
Winner winner, who gets a fork for dinner?
Although ETHW has been in the spotlight for quite some time, ETC still seems to be stealing the show with a massive increase in its hashrate and a steady price increase.
As can be seen from the chart, ETC’s overall hashrate has increased by over 100% over the past few months, suggesting that the token is the miner’s preferred option.
Source: 2Miners
Comparing the prices of both tokens, ETC has seen tremendous growth, and ETHW’s price has continued to decline since its launch.
At the time of writing, ETHW was trading at $28.18 with a negative 18% 24-hour performance. ETC was valued at $38.76 with a positive 5.5% 24-hour return.
Looking at the current situation and complexity with ETHW, it appears that ETC still has the advantage and could prove to be a winner after the merger.
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