ETHW drops 67% in a day and ETHPoW’s servers have everything to do with it

Ethereum [ETH], the most important altcoin, efficiently accomplished the historic Merge to PoS on 15 September. But what in regards to the newest, buzziest Ethereum fork – “designed” by veteran Ethereum miner, ETH PoW? Is it useless but or nonetheless respiration deep inside the crypto ocean?

Life with out YOU

Well, regardless of taking a enormous blow, ETHPoW—the ETH community’s rival offshoot continued to imagine in its means. In reality, ETHPoW formally launched its mainnet on 16 September. This was adopted by the workforce asserting the identical on through social media.

The launch included key technical necessities and particulars. Herein, the official RPC for customers to add ETHPoW to their wallets and block explorer URL.

The value of ETHPoW token drastically soared moments after the Merge. Prior to this, the fork’s native cryptocurrency, ETHW, surged some 70% to $60.68, possible in anticipation of the community’s launch. Soon, the token soared from $34.08 to $51.35 moments after the Merge.

Meanwhile, the platform even acquired help from mining giants as properly. EthereumPoW, the group advocating for ETHPoW, or the PoW Ethereum model, released a listing of mining swimming pools to proceed mining after the ETHW mainnet launch. These included the F2Pool, Poolin, and Antpool.

F2pool launched the ETHW (EtheremPoW) mining pool. The weblog added,

“(…) the remaining hashrate in our ETH pool is redirected to our ETHW mining pool. ETHW uses the Ethash mining algorithm, it can be mined with current GPUs and the Ethash ASIC mining machines.”

Others talked about adopted the lead as properly. However, Ethermine opted to terminate its Ethereum mining pool providers due to Ethereum switching on PoS, formally announcing a withdrawal-only mode.

Error #101

Fair to say that this celebration was certainly short-lived. Technical points stymied the launch of the forked, post-Merge PoW blockchain. ETHPoW’s web site servers shut down due to heightened exercise.

Different customers confronted points accessing the web site given such a enormous impediment.

Allegedly, the difficulty was that ETHPoW had chosen a chain ID already in use.

Many took to social media to warn about interacting with the brand-new chain. They additionally raised considerations about potential replay assaults and attainable volatility across the token’s worth.

Well, the the token did face the wrath right here. At the time of writing, ETHW dropped a MASSIVE 67% in simply 24 hours as it traded across the $14 mark.

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