Following Ethereum’s Merge, many cryptocurrency community members have been discussing the Proof of Work (PoW) fork called ETHW, which has dropped significantly in value over the past few days They are discussing it. However, many are unaware that there is another Ethereum-based PoW fork called EthereumFair (ETF), which has collected a small amount of hashrate and fiat value since the token’s mainnet launch.
Crypto Community Greets Another PoW Fork Called Ethereumfair
Most people knew that a proof-of-work (PoW) crypto asset called ETHW was created following The Merge on September 15, as it was announced a few weeks before the mainnet launch. As of this writing, ETHW is down 17%against the USD in 24 hours, and the project’s hash rate has also dropped significantly
On September 15, ETHW’s hash rate hit an all-time high (ATH) of 80.56 terahashes per second (TH/s). However, ETHW hash rates have stalled recently, with the PoW network losingSince then, it has lost 53.35%of its hash power.
It seems that a great many people are unaware that ETHW is not the only ETH-based PoW fork, there is also an ETH-based PoW fork,Ethereum Fair (ETF). The Ethereum Fair team has awebsiteand several social media channels.
The team’s. Twitter accountwas created in January 2020 and has 14,100 Twitter followers at the time of writing; Ethereumfair’s account has roughly 1,000 fewer followers than ETHW’s 15.1K Twitter followers While ETHW is down 17%, the ETF is also down 17.6%against the USD. $1.57 per unit.
According to statistics from Coingecko.com, ETFs ranged in price from $1.48 to $3.50 per unit, with a global volume of $3.43 million. 2 days ago, ETF prices hit an all-time high at $20.59 per unit, and on the same day, at $0.99 per coin dollars and fell to its lowest price at $0.99 per coin.
Today’s ETF trading activity is evident on Huobi and Gate.io, with the most dominant trading pair being Tether (USDT) Poloniex lists ETFs as well, but this exchange leveraged the ETHW IOU market and renamed itETF
Market price anomaly following Poloniex’s renaming of ETHW – Ethereum Classic still reigns champion in USD value and overall hash rate, ETHW and ETF hash rates are
equivalent to 21% of Ethereum Classic’s hash power.
At press time, there are price anomalies between Poloniex’s, Huobi’s, and Gate.io’s ETF exchange rates. Because whileHuobi’s ETF exchange rate is $1.57 per ETFand $1.58 per ETF in Gate.io’s data, Poloniex’s ETF quotes match ETHW’s current price at $7.94 to $7.99 per unit.
Ethereumfair is also collecting a small percentage of the hashrate left over from The Merge. At the time of writing, Ethereumfair has a hash rate of7.9 TH/swith seven nodes dedicated to the new network; compared to ETHW’s hash rate, ETF’s hash power is 21% of ETHW’s total hash rate.
Ethereum Classic’s hash rate today continues to coast at219 TH/s, according to statistics collected by 2miners.com219 TH/sThe combined hash rate of ETF and ETHW is., which equates to just over 20% of ETC. ETC, which corresponds to a total hash power of ETCis currently trading at $33.35 per unit, which means that ETHW is equivalent to 22% ofETCETFs equal 22% of, which equals 4.73% of the net USD value of ETC, which equals 4.73% of the net USD value of ETC
The double fork that followed The Merge is unusual, but multiple forks have occurred in the blockchain network in the past. For example, in April 2018, Monero, a privacy-focused blockchain network, split into four different protocols following a hard fork that same year.
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