The long-awaited Ethereum upgrade is just around the corner, but not everyone is excited about this mega-account. A group calling itself ETHW Core has opposed the change and is preparing to do a hard fork within 24 hours of the Merger.
With the ETHPoW project and the ETHW token, ETHW Core plans to separate from the main ETH blockchain and maintain a PoW version to maintain ETH mining after The Merge.
“The ETHW mainnet will be created within 24 hours of the Merger. An exact time will be announced one hour before launch with a countdown and everything including final code, binaries, configuration files, node information, RPCs, probe, etc. Everything will be made public at the end of the time limit,” the group wrote in a tweet on Tuesday.
The Ethereum network upgrade will move away from its current Proof-of-Work (PoW) mining model to a Proof-of-Stake (PoS) consensus mechanism, phasing out miners and adding validators to their -place.
In an open letter on August 29 explaining their motivations, the band members explained why they believe, “PoS is indeed a game changer, but only in a bad way. »
“It is not safe to proceed with PoW on Ethereum, which should not be a concern for those who support openness and the free market, because there is no downside. After all, if PoS on Ethereum is so great, why be afraid of the competition? »
However, many in the community believe the fork is driven by money, rather than ideological differences.
There has been considerable concern about the ChainID fork and the possibility that it will increase the risk of replay attacks and other hacks.
Hudson Jameson, a former member of the Ethereum Foundation, asked on September 8 why the fork was launched after the actual upgrade.
“I highly doubt they will get enough hash if they launch the project after the Merger. “, He wrote. “The hash power will be on other blockchains by then and the additional value of ETHPoW is already low. “, He wrote.
So.
1. ETHPoW is not really a contract freeze.
2. It is not clear if they are still editing EIP-1559 for the prompts to go to “DAO miner” (PRs code indicates that this is happening).
3. They will probably be shipping days after the merge happens (from what I can tell in the code). https://t.co/vvjf7neS0w— Hudson Jameson (@hudsonjameson) September 8, 2022
Therefore,
1. ETPoW does not actually freeze contracts.
2. It is not clear if they are still modifying EIP-1559 so that pointers go to “DAO miner” (RP codes suggest this is happening).
3. They probably ship a few days after the Merge (from what I can tell in the code). https://t.co/vvjf7neS0w
— Hudson Jameson (@hudsonjameson) September 8, 2022
Coinbase Cloud Protocol Specialist Viktor Bunin told ETHW Core to get clarification on the matter. The result of the request was not displayed.
I’m disappointed that our team has to submit PRs (due to disability issues), but it’s imperative that @EthereumPoW team clear guidance on the chainID
Failure to do so leaves all user and exchange assets on both chains vulnerable to replay attacks. pic.twitter.com/6Z80AjdDjT
— Viktor Bunin ️ (@ViktorBunin) September 9, 2022
I’m disappointed that our team has to submit RP (due to disabled issues), but it’s imperative that the @EthereumPoW team provides clear guidance on chainID. If this is not done, all users and exchange assets on both blockchains will be exposed to replay attacks. pic.twitter.com/6Z80AjdDjT — Viktor Bunin ️ (@ViktorBunin) September 9, 2022
Also read: Ethereum is ready for a Merge upgrade
If all goes as planned, the Ethereum Merge will take place in less than a day.
As of this writing, the ETHPoW token is trading at $29.71, but it is only a futures ticket, designed in anticipation of the upcoming upgrade. The price of ether (ETH) is currently at $1,599, down 2.26% in the last seven days.
