much awaited ethereum [ETH] Merge is just around the corner. However, the mining community continues to look for new options to continue its operations.
While many miners are entering other networks, such as Ethereum Classic [ETC] and Ravencoin [RVN]Some are favoring a hard fork, Ethereum PoW. Recently, the ETHW community published a open letter Addressing the Ethereum community regarding some of the decisions and updates to their plan.
pump and ready
As the ETHW community builds its ecosystem, it announced that no contract pools on ETHW will be restricted in any way. The community opposed the idea of integrating contract freezing technology into the core core.
In addition, the letter also mentioned the complete adherence to current ETHW ledgers and the absence of any centralized or regulated technology. Interestingly, the ETHW community also said that they would welcome any user wallets. These include simple wallets, on-chain multi-signature wallets, and even hackers wallets.
Additionally, ETHW clearly revealed its intentions if another DAO-like situation occurs in the near future. This includes not returning to the ledger, which happened at the time of the creation of the first ETH.
ETHW Core: An Open Letter to the Ethereum Community [2/9],
Final decision on whether to freeze ETHW liquidity pools#ethw $ethw #eth $eth #ethereum #ethereummerge #ethpow #ethereumfork
1/n pic.twitter.com/YntDFD1Oqa
– EthereumPoW (ETHW) Official #ETHW #ETHPoW (@EthereumPoW) 8 September 2022
all is not well
MarkerDAO recently revealed a new document that highlights the potential dangers that come with merges. In addition, a new PoW token can be created.
Once merged, a forked Ethereum PoW chain appears to be imminent, with a non-zero probability that it will use the same chain ID as the PoS chain.
What are the implications of this risk for holders of Maker Protocol, Dai and MKR?
I
1/
— Maker (@MakerDAO) 8 September 2022
Furtehrmore, when forked tokens are created, they will increase the likelihood of a replay attack. A replay attack is taking a transaction from one network and using it on another network.
Forked Ethereum PoW networks can be replayed on the Ethereum PoS network if they share the same chain ID. ETHW also pointed to this station in a recent tweet.
About Chain ID, EIP155 and Replay Attack –
EIP-155 https://t.co/ONtfEjebLf
The hard fork that was implemented EIP-155 – https://t.co/WXRmvCVA1L
EIP-3788 – https://t.co/rxOGRRqRcr
1/n
– EthereumPoW (ETHW) Official #ETHW #ETHPoW (@EthereumPoW) 9 September 2022
Winner winner, who gets the fork for dinner?
Although ETHW has been in the limelight for quite some time now, ETC still seems to be stealing the show with its huge jump in hash rate and steady price increase.
As can be seen from the chart, the overall hash rate of ETC has increased by over 100% over the past few months, indicating that the coin is the preferred choice of miners.
Comparing the prices of both the tokens, ETC registered a massive increase, and the price of ETHW has continued to decline since its launch.
At the time of writing, ETHW is trading at $28.18 with a negative 18% 24-hour performance. ETC price settled at $38.76 with a positive 5.5% 24-hours gain.
Looking at the current situation and complications with ETHW, it looks like ETC still has an edge and could emerge the winner after the merge.