Rivalry Unfolds Between Ethereum Merge Hard Forks’ Proof-of-Work Projects

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The Ethereum transition to ETHPoS saw the blockchain do away with miners. However, the future of the miners that chose to maintain Proof-of-Work has several uncertainties. Led by Chinese miner Chandler Guo, they created a post-merge ETHPOW and ETHW.

The hard fork had a rocky start, but it’s now running. At the time of writing, ETHW is trading at $5.20, as per CoinMarketCap. Before ETHPoW, another hard fork known as EthereumFair existed and is also committed to maintaining the Ethereum Proof-of-Work model with ETF.

However, EthereumFair has not received much attention compared to Guo’s ETHPoW. On its Twitter account, EthereumFair claims to be the first PoW token to get forked from Ethereum. Its account got created in January 2020.

It has about 14 thousand followers. Surprisingly, despite its two-year existence on Twitter, it has fewer followers than the ETHPoW account, which was created in July 2022 and has gained over 15 thousand followers.

Headed by a group of Chinese miners, EthereumFair’s core documentation was offered mainly in the Chinese language before this weekend when its leadership opted to create Telegram channels for multiple languages.

ETHPoW Records More Transactions than EFT

Data on EthereumFair’s block explorer shows that ETF has over 6.6M in total transactions and nearly 1.7M wallet addresses. At the time of writing, ETF is trading at $6.42, as per CoinMarketCap. The price represents a 30% drop in the past 24 hours. On the other hand, ETHW has over 1.6B total transactions and about 86.3M wallet addresses.

Poloniex adds ETF Support.

Poloniex, a crypto trading platform, was the first exchange to support ETF. Its leadership stated that it had decided to Support ETF based on the consensus of users and the market situation. Poloniex users can exchange Tron’s USDD stablecoin for ETF at zero fees.

However, this does not apply when buying EFT using other stablecoins like USDT and USDC. Poloniex is among the top-rated exchanges on CoinMarketCap, ranking at #23. In the past 24 hours, it has seen over $32 million in trading volume.

ETF is also trading on other crypto exchanges like Bitcoke and Huobi. Recently, Poloniex added ETHW to its platform. Other exchanges trading ETHW include XT.COM, Bybit, Deepcoin, and OKX.

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