What is EthereumPoW (ETHW)?

Deep Dive

1. Purpose & Value Proposition

ETHW exists to uphold proof-of-work principles, which its supporters argue are more censorship-resistant and decentralized than proof-of-stake. The project positions itself as a continuation of Ethereum’s original vision, appealing to miners displaced by the Merge and users skeptical of PoS’s regulatory compliance risks (CoinMarketCap).

2. Technology & Architecture

ETHW replicates Ethereum’s pre-Merge technical framework:
- Consensus: Proof-of-work (Ethash algorithm).
- Key Changes: Disabled Ethereum’s difficulty bomb (a mechanism to phase out PoW) and redistributed EIP-1559 transaction fees to miners instead of burning them.
- Compatibility: Supports Ethereum Virtual Machine (EVM), enabling cross-chain tooling for wallets and DApps.

3. Tokenomics & Governance

• Supply: Mirrored Ethereum’s circulating supply at the Merge snapshot (107.8M ETHW), with no hard cap.
• Distribution: ETH holders pre-Merge received 1 ETHW per ETH via airdrop.
• Governance: Decentralized, with decisions driven by miner consensus and community proposals. The anonymous ETHW Core team oversees protocol updates but emphasizes open participation.

Conclusion

EthereumPoW is fundamentally a ideological fork prioritizing PoW’s security model and mining ecosystem over Ethereum’s staking-centric future. While it retains technical compatibility, its long-term viability hinges on maintaining a distinct user base and miner support. Can decentralized governance sustain ETHW’s relevance as PoS dominates Ethereum’s roadmap?