That Are in Competition Before EthereumPoW gave birth to ETHW, EthereumFair sold ETHF, which is now called ETF.
The Ethereum merge got rid of the network’s need for miners without a hitch, but those who chose to stick with proof of work don’t know what to do next.
Many miners who wanted to keep mining Ethereum joined a large group led by Chandler Guo to make ETHPoW and ETHW. Even though their hard fork hit some snags, it’s still running and trading at $5.26 as of this writing, down 35% in the last 24 hours.
But before there was ETHPoW, there was EthereumFair. ETF, which used to be called ETHF, was another group that wanted to keep Ethereum’s proof-of-work model. But EthereumFair hasn’t gotten nearly as much attention as EthereumPoW has.
On Twitter, Ethereum Fair says it was the first PoW token to split off Ethereum. The account was made in January 2020 and has about 14,000 people who follow it. Even though it’s been around for two years, that’s less than the number of people who follow the EthPoW Twitter account, which has just over 15,000 since it was set up in July.
Ethereum Fair is run by a group of Chinese miners, and most of the information about it is written in Chinese. This weekend was the first time the people in charge worked on making Telegram groups for different languages.
The Ethereum Fair block explorer shows that there have been 6.7 million transactions and 1.8 million wallet addresses for ETF. At the time of this writing, the currency is trading at $6.43, which is 30% less than it was 24 hours ago.
ETHW, on the other hand, has recorded 1.7 billion transactions and has tokens in 86.3 million addresses.
On the other hand, Ethereum Classic was created in 2015 during a different fork. According to 2miners.com, after the merge, the hash rate of Ethereum Classic went up because miners switched to mining that currency as well.
Poloniex was the most well-known exchange that supported ETFs. It first said it would support EthereumFair “based on the market situation, the consensus of users, and the community.” Poloniex also changed the name of ETHF to ETF and then added support for ETHW.
When buying ETFs on Poloniex, users who are exchanging Tron’s USD stablecoin for the cryptocurrency won’t have to pay any fees. This doesn’t apply to purchases made with other stablecoins, like Tether’s USDT or Ethereum.
The exchange is ranked 23rd on CoinMarketCap’s list of the top exchanges, and over the past 24 hours, $32 million worth of trades have been made on it. At the moment, the coin is also traded on Huobi and BitCoke, which are both cryptocurrency exchanges.
OKX, XT.COM, Deepcoin, Bybit, and CoinW are some of the exchanges that buy and sell ETHW.