ETHPoW launch

Ethereum’s Mining Fork ETHPoW Gets Off to Bad Start

16.09.2022 08:49
by Irene Pinchuk
1 min read

On the same day that Ethereum successfully transformed into a proof-of-stake network, its hard fork with a proof-of-work consensus mechanism, ETHPoW, launched as well. However, the launch of the mining-centric network didn’t go without issues.

Namely, many users encountered issues when trying to access it. ETHPoW developers erroneously chose to use the same chain ID for its mainnet as a Bitcoin Cash testnet, leading to connectivity problems.

Ironically, ETHPoW’s chain ID, which is used to identify a specific network and its on-chain assets, was seen as a potential source of trouble if not changed from the one Ethereum uses. However, no one could anticipate that ETHPoW developers would settle on the one that’s already in use.

According to CoinMarketCap, hours before ETHPoW’s launch, its price rose by some 70%, to $60. Currently, it’s trading at $12.84. A bumpy start of the new chapter of ETH miners’ career.

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  • After 6+ years in Digital Marketing & Product Management of B2C relationships, I’ve moved onto the B2B world. Now I’m CEO at Scale Final Content, creating remarkable experiences for every business we work with. We Make UX Content That Ranks 🚀 We are a team of industry leading experts with 6+ years of writing experience, accomplishing the latest SEO trends. I'm a crypto enthusiast, NFT lover and marketer. Obsessed about coffee, UX design and UX content. Live in heart of crypto events, Lisbon, full of sun, ocean and music.

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