How to Buy EthereumPoW (ETHW) on LBank

EthereumPoW, commonly known by its token symbol ETHW, is a blockchain network that originated as a hard fork of the original Ethereum blockchain. This split occurred in September 2022, coinciding with the landmark event known as the Merge, where the main Ethereum network transitioned from a Proof of Work consensus mechanism to Proof of Stake. The primary purpose of EthereumPoW was to preserve the mining-based system that had secured Ethereum since its inception in 2015. This initiative was largely driven by a community of miners and developers, led by prominent crypto figure Chandler Guo, who sought to maintain a platform where specialized mining hardware could still be utilized. They argued that Proof of Work offered a more battle-tested approach to security and decentralization compared to the new staking model. Technically, the project began as a replica of the Ethereum codebase but introduced several critical modifications to ensure its survival as a standalone chain. One major change was the removal of the difficulty bomb, a piece of code designed to make mining increasingly difficult and eventually impossible on the original Ethereum chain. Additionally, the network adjusted how transaction fees are handled, opting to reward miners with the base fees that are typically destroyed on the main Ethereum network. It also uses a unique chain identification number to prevent transaction replay issues between the two networks. In its early stages, the project was managed by the ETHW Core team. However, in late 2023, the core team announced its dissolution to fulfill a promise of achieving full decentralization. Responsibility for the network's maintenance and governance was transitioned to the community and a decentralized protocol known as OneDAO. This move aimed to transform the project into a self-governing public blockchain without a central authority. Today, the EthereumPoW ecosystem continues to support a variety of decentralized applications, including decentralized finance protocols, non-fungible token marketplaces, and blockchain-based gaming. While it retains the core functionality and smart contract compatibility of pre-Merge Ethereum, it operates as a distinct environment for users and developers who prefer the traditional mining model. Despite its independent path, the project continues to face challenges common to forked chains, such as maintaining developer interest and broad infrastructure support across the wider Web3 landscape. Learn more