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Ethereum old school had a -60% dip: Ethereum-PoW, not combed and leaving difficult


Miners in trouble? – In the hours following the onset of Fusion South Ethereum (ETH), minors had to continue their adventure South Ethereum-PoW (ETHW). Indeed, this last network I kept the labor price (PoW) based on consensus. Except that, contrary to The Merge which went well, the ETHW network knows some problemsand the price of its token suffers.

A conflict between Ethereum-PoW and a Bitcoin Cash testnet

Refusing the transition to Proof of Stake (PoS), supported by The Merge, ether miners have largely wanted to transfer their machines to Ethereum-PoW. But unfortunately it didn’t happen without a hitch.

With the particular CoinDesk report, more than 100000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 step by step to access the servers of this blockchain. Indeed, the information provided on the project’s official Twitter account allows the ETHW message to be added to a digital wallet, using MetaMask.

The problem would come from a identity conflict of the ETHW blockchain with that of SmartBCH. This last network happens to be a testnet of a scalability solution BitcoinCash (the 2017 Bitcoin fork). Thus, users attempting to connect their wallet would obtain this mistake :

“The network with channel ID 10001 may be using a different currency symbol (BCHT) than what you entered. »

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ETHW price crashes nearly 60%

between these initial coffeesand the fact that some sell immediately their ETHWs, the price of the token has depreciated sharply since this fork. Because although it is very badly seen on the side of the faithful to Ethereum-PoS, this pro-miner version has still been listing on many exchanges. in faith, some crypto platforms have even opened ETHW trading from August, with the first serious announcements on this fork.

But since The Merge, as we said above, the Ethereum-PoW token is no longer popular. While the ETHW price had stabilized around $30 to $33 (after a volatility peak at 60 dollars), it is disproportionately lowered between 10 and 13 dollarsi.e. a reduction of the order of 60%.

Price of ETHW against the US dollar – Source: CoinMarketCap

Will this Ethereum-PoW resource survive in the long term? In any case, his makes its debut Look at the left winded. I spoiled heavy mining support for this one, it’s the Proof of Stake version of Ethereum that was found all of them apps Challengefrench fries stablecoins. In fact, stablecoin issuers and projects have all placed their trust in The Mergeand therefore to this transition to PoS.

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