The Ethereum merge was one of the most anticipated and highly anticipated updates to its blockchain network.
On Thursday, September 15, 2022, the Ethereum Network finally switched to proof-of-stake mining, ending the proof-of-work mining paradigm. The blockchain now uses 99.95% less energy than in the past, ushering in a more environmentally friendly era in the cryptosphere.
The transition from proof-of-work to proof-of-stake has been underway for a long time. The network was frequently addressed on the effects it had on ecology and the environment. The merger ultimately marked the end of these accusations.
The change has made it difficult for miners since validators took their place. Many people eventually started exploring other coinable currencies such as ETC. However, it was at that point that a formal notice was issued signaling the start of an Ethereum proof-of-work fork (ETHW).
What is Ethereum PoW?
The Ethereum PoW community stated in mid-August that a “hard fork is inevitable”. The team has already taken steps to ensure the success of the hard fork.
According to information provided at the time, the community had already removed the difficult time bomb. It also changed the Chain ID to provide replay protection and completed setting up the testnet, furthering the plans.
The Ethereum PoW was created after the merger to protect the original Ethereum based on proof-of-work. While fusion was successful in its mission to reduce environmental impacts, it affected ETH miners.
To protect the miners, ETHW was launched 24 hours after the merger. It soon gained support from many and various exchanges listed the coin after its launch. At the time of writing, ETHW is trading at $8.78 according to data from CoinMarketCap.
Reports stated that ETH miners earned $1 billion higher than BTC miners. After the merger, the numbers literally went to zero. However, the miners probably chose an alternative currency to continue their mining operations.