Ethereum PoW Publishes The Modifications That Will Take Effect
The adjustments that will be implemented after The Merge are just now being made by Ethereum PoW, the team that manages the Ethereum PoW chain.
Why use Ethereum PoW?
According to CoinCu, the “post-The Merge” scenario gets more and more intense as The Merge approaches. There is a project that intends to develop Ethereum Proof-of-Work, so it’s not only the ETH1 vs. ETH2 arguments and the need to wait for it to “resolve The Merge” anymore.
Specifically in its bio, EthereumPoW (ETHW) states:
“EthereumPoW (ETHW) is the original Ethereum chain, using the PoW algorithm ever. The Ethereum Foundation is moving to a PoS chain fork but we decided to stay with PoW.”
Ethereum PoW changes that will take place
Today, August 10, 2022, Ethereum PoW has just announced the changes that will be applied after the chain split.
1. No more tokens
No premine or token inflation will occur. The chain, which is a continuation of the current Ethereum PoW chain, is entirely fair.
2. Vision PoW
We uphold our commitment to preserve Proof-of-Work (PoW) and the consensus algorithm that Satoshi Nakamoto created. The basis of everything in the current bitcoin industry is PoW: A system that is both powerful and complete.
3. Avoid EIP-1559
There is no justification for punishing one set of people in order to benefit another in a system or society that is truly open.
One of the most significant developments in Ethereum’s recent history is the EIP-1559 update. This update results in a “deflation block,” where the amount of ETH burned exceeds the value of the block reward that ETH produces. EIP-1559 creates deflationary pressure on the supply of Ethereum as a result, giving the coin a bullish boost.
“EIP-1559 was deployed on August 5, 2021, a year ago. The amount of ETH burned is up to 2,570,818 ETH, or 2.1% of the total supply.”
Thus, while EIP-1559 is extremely important to the development of Ethereum 2.0, in contrast ETH PoW insists that this upgrade is not maintained.
4. There is no “KOL leader”
We never idolize a leader. Quite the opposite of the other Ethereum project, we strive to be an enlightened society.
It can be said that this affirmation only refers to Vitalik Buterin, when a part of the Ethereum community idolizes this founder. On the other hand, Vitalik also doesn’t “like” ETH PoW, calling the ETHW hard fork proponents.
5. Decentralization
The EthereumPow network (to distinguish it from the upcoming PoS fork chain) will eventually become fully autonomous and autonomous, without any governing entity. We aim to get this done within 3 years.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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Annie
CoinCu News
Author
Ethereum
Ethereum PoW Publishes The Modifications That Will Take Effect
The adjustments that will be implemented after The Merge are just now being made by Ethereum PoW, the team that manages the Ethereum PoW chain.
Why use Ethereum PoW?
According to CoinCu, the “post-The Merge” scenario gets more and more intense as The Merge approaches. There is a project that intends to develop Ethereum Proof-of-Work, so it’s not only the ETH1 vs. ETH2 arguments and the need to wait for it to “resolve The Merge” anymore.
Specifically in its bio, EthereumPoW (ETHW) states:
“EthereumPoW (ETHW) is the original Ethereum chain, using the PoW algorithm ever. The Ethereum Foundation is moving to a PoS chain fork but we decided to stay with PoW.”
Ethereum PoW changes that will take place
Today, August 10, 2022, Ethereum PoW has just announced the changes that will be applied after the chain split.
1. No more tokens
No premine or token inflation will occur. The chain, which is a continuation of the current Ethereum PoW chain, is entirely fair.
2. Vision PoW
We uphold our commitment to preserve Proof-of-Work (PoW) and the consensus algorithm that Satoshi Nakamoto created. The basis of everything in the current bitcoin industry is PoW: A system that is both powerful and complete.
3. Avoid EIP-1559
There is no justification for punishing one set of people in order to benefit another in a system or society that is truly open.
One of the most significant developments in Ethereum’s recent history is the EIP-1559 update. This update results in a “deflation block,” where the amount of ETH burned exceeds the value of the block reward that ETH produces. EIP-1559 creates deflationary pressure on the supply of Ethereum as a result, giving the coin a bullish boost.
“EIP-1559 was deployed on August 5, 2021, a year ago. The amount of ETH burned is up to 2,570,818 ETH, or 2.1% of the total supply.”
Thus, while EIP-1559 is extremely important to the development of Ethereum 2.0, in contrast ETH PoW insists that this upgrade is not maintained.
4. There is no “KOL leader”
We never idolize a leader. Quite the opposite of the other Ethereum project, we strive to be an enlightened society.
It can be said that this affirmation only refers to Vitalik Buterin, when a part of the Ethereum community idolizes this founder. On the other hand, Vitalik also doesn’t “like” ETH PoW, calling the ETHW hard fork proponents.
5. Decentralization
The EthereumPow network (to distinguish it from the upcoming PoS fork chain) will eventually become fully autonomous and autonomous, without any governing entity. We aim to get this done within 3 years.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
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