Minutes after Ethereum concluded its long-awaited merge to proof of stake, ETHPoW—the network’s competitor which planned to maintain proof of work on a forked interpretation of Ethereum—took its mainnet live Thursday afternoon. This article is a complete guide on how to add ETHW to MetaMask Wallet. Let’s take a look at it in more detail.
What is EthereumPoW?
The EthereumPoW is the original Ethereum blockchain powered by the Proof of Work mechanism. Ethereum POW (ETHW) is a new coin that is divided after the change to Proof-of-Stake.
EthereumPoW places itself as “the original Proof of Work Ethereum, developed and operated by the community.”.
The preliminary goal of the Ethereum POW (ETHW) division is to build an ecosystem that current ASIC miners can still be able to mine and utilize as an income source. Many ETHW supporters believe that the ETHW fork has no endurable fate and that utilizing the network may be scary due to insufficient growth and testing.
Here is the ETHW Mainnet Info
As mentioned earlier, EthereumPow is the original PoW-based Ethereum network. Ethereum Foundation has shifted to a PoS fork while some chose to stay with the PoW Ethereum.
Proof of Work and Proof of Stake are two popular consensus mechanisms. While Bitcoin and Ethereum run on PoW, the latter plans on switching to PoS during its highly anticipated “merge“. Cryptocurrencies are understood to be decentralized. This implies that they do not require the main entity to handle their actions such as authorizing transactions and securing the network and public ledger. All of this occurs thanks to the consensus mechanism deployed on the network. They essentially assist in calculating all the transactions that transpire by the moment, while abandoning “wrong” or “dubious” ones.
There is no leading consensus mechanism. Both PoW and PoS have their resilience and disadvantages. Yet, we know by now that PoW delivers more useful decentralization and more security. On the other hand, PoS offers more rapid, efficient, and scalable transactions. It all boils down to the use case of the blockchain itself.
If the blockchain desires to become the next gold, PoW might be the more suitable option as it delivers decentralization and security in maintaining wealth. Yet, PoS is likely more alluring in cases such as smart-network and delivering a reliable infrastructure to other Dapps and Web3.0 promoted websites, as it is in dire requirement of speedy transactions and scalability.
MetaMask Wallet
MetaMask is a software developed in 2016 by a blockchain software company. It utilizes the Ethereum (ETH) blockchain and allows users to access their cryptocurrency wallets via a web browser extension and a mobile app. It also permits users to trade, exchange, and keep Ethereum-based cryptocurrencies on a decentralized platform. This makes it totally secure and provides 100% rights of the wallet to the users.
MetaMask was originally available in desktop web browser extensions for Google chrome and firefox. Later in 2020, they launched its mobile app version which is available on Android and iOS. MetaMask was inspected by lawful authorities & found to be extremely secure and user-friendly.
Now, the ETHW network is consistent with MetaMask Wallets because it is a split of the Ethereum mainnet and is programmed in the identical programming language named Solidity. This suggests that users can effortlessly add the Ethereum POW fork to their MetaMask Wallet.
First-time user – How to setup Metamask
How to add Ethereum POW (ETHW) to MetaMask Wallet?
ETHW to MetaMask
Follow the straightforward 4 steps given below to add the presently live ETHW Testnet:
The RPC details about the ETH POW are as follows:
List of ETHW Mining Pools
ETHW Mainnet Info
Network Name: ETHW-mainnet
New RPC URL: https://t.co/MQ04pnPQyW
Chain ID: 10001
Currency Symbol: ETHW
Block Explorer URL(Optional): https://t.co/J3JllmQA8I
According to the official post, after the mainnet launch, more and more pools are joining. Below is the list of pools:
What are the new developments?
Apart from the announcement of new mining pools entering the ETHW environment, the last few days were particularly interesting for the community as various updates and notifications were released.
ETHW Core: An open letter to the Ethereum community [3/9]: Mainnet Launch and ETHW Mining Pool
It seems that the Ethereum Foundation will not slow down moving to PoS, so it’s time to talk about ETHW, the PoW chain, which is the backbone that the Web3 is currently built upon.
1/n pic.twitter.com/5ZaSCC2V7G
For example, the ETHW community conveyed an open letter in which they spoke about the ETHW mainnet and ETHW mining. The significant statement was that ETHW would be thrown within 24 hours after the Merge is finished. Moreover, the ETHW community just also told miners to withdraw ETH within seven hours.
The important thing to note here is that, while these consequences happened, ETHW’s token price also reacted consequently. Since its takeoff, ETHW has noticed a relentless fall in its price, but now, the case appears to be switching in the token’s rage. At the time of writing, ETHW was priced at $13.87.
Though the actions around ETHW looked favorable, some other blockchains are also getting good attention after the Merge. For example, Ethereum Classic and Ravencoin were displaying good performance even before the merge. ETC and Ravencoin both reported a tremendous surge in their network hashrate.
