EthereumPoW (ETHW)

Overview

EthereumPoW is a blockchain that uses proof of work to confirm transactions. Its native coin is ETHW. The network began when Ethereum changed to proof of stake in September 2022 and a group of miners and developers continued the earlier mining-based approach on a separate chain. EthereumPoW shares Ethereum’s history up to the split, but transactions made after that point belong to one chain or the other. (ethereum.org)

ETHW has two basic jobs. People use it to pay for activity on EthereumPoW, such as sending a coin or running a smart contract. Miners receive it for adding blocks to the chain. The network can also run applications built with Ethereum-style tools, giving developers a familiar way to create projects on a proof-of-work blockchain. (blog.kraken.com)

History & Team

The 2022 split

Ethereum began as a proof-of-work network. On September 15, 2022, an upgrade called the Merge changed Ethereum to proof of stake. Under the new system, validators secure Ethereum by staking ETH instead of mining. EthereumPoW launched its mainnet on the same date to continue using miners. At the split, addresses on the new chain carried over their earlier Ethereum balances and contract records. From then on, the two networks followed separate paths. (ethereum.org)

The fork was organized by a group called ETHW Core. Its members described the project as a volunteer effort supported by people who favored proof of work. In December 2023, ETHW Core announced that it was dissolving its development organization. The group said the chain could operate without its continuing support and that it wanted to keep proof of work in place. It also said existing servers would pass temporarily to OneDao for maintenance. This history matters because the early core group and the network’s later community are different parts of the project’s story. (medium.com)

Technology & How It Works

Mining and block production

EthereumPoW uses proof of work, a method in which miners run computers to compete for the right to add the next block. A block groups together transactions and updates the shared record of accounts. Other computers on the network check that the block follows the rules. This process lets participants agree on the order of transactions without a single operator keeping the ledger. Mining rewards give participants a reason to provide computing power. (ethereum.org)

ETHW Core made changes that allowed the chain to keep mining after Ethereum’s Merge. It disabled the difficulty bomb, an older Ethereum feature designed to make mining harder over time. The project also gave post-split transactions their own chain ID, 10001. A chain ID helps wallets and applications identify which network a transaction is meant for. (medium.com)

Smart contracts and shared history

EthereumPoW has an Ethereum-derived execution system. A smart contract is a program stored on a blockchain that follows written rules when someone interacts with it. Developers can use familiar Ethereum tools and Solidity code to build contracts for ETHW. The project publishes an Ethereum-derived Go client that people can use to run a node—a computer that checks and keeps a copy of the chain. (github.com)

The shared history at the fork included more than coin balances. It also included records of tokens and smart contracts that existed on Ethereum before the split. Yet a copied record does not make an application equally useful on both networks. An app may need active developers, working websites, data feeds, or organizations that support its assets. That difference between code being present and a service being maintained helps explain EthereumPoW’s ecosystem. (medium.com)

Tokenomics & Utility

ETHW is the chain’s native coin. It exists as part of EthereumPoW’s network rules, rather than as a token issued by a smart contract. That makes it the coin used to pay transaction fees. Someone sending ETHW, moving a token, or using an application needs ETHW to cover the work their transaction requires. Miners receive rewards for producing blocks, so mining adds newly issued ETHW to the network over time. (medium.com)

The fork also shaped the coin’s starting distribution. ETH held at an Ethereum address before the split appeared as a matching ETHW balance at that address on the new chain. For coins held through an exchange, access depended on how that exchange handled the fork. This differs from a launch in which one project first creates and sells its entire supply: EthereumPoW began with balances inherited from years of Ethereum activity, followed by continued mining. (medium.com)

ETHW can serve other roles inside applications, such as paying for an on-chain name or exchanging one asset for another. Those uses come from individual projects built on the chain. At the network level, its central roles remain paying fees and rewarding miners. (ethw.domains)

Ecosystem & Use Cases

EthereumPoW gives people a place to build and use Ethereum-style applications while keeping mining as the way blocks are added. A developer can create tokens, digital collectibles, exchanges, or other programs with smart contracts. Users can then pay fees in ETHW to interact with them. The network also supports direct transfers between ETHW addresses without requiring an application. (github.com)

One example of an application built for this chain is ETHW.domains. Its documentation describes a naming service where a person can register a .ethw name and connect it to a wallet address. The name is represented by a digital collectible, and the project describes links with a wallet and an NFT marketplace. It shows how a familiar idea—using a readable name instead of a long address—can be adapted for EthereumPoW. It represents one project within the ecosystem, rather than every service available on the chain. (ethw.domains)

Mining is another use case. People who run mining equipment can help produce blocks, while node operators can check the chain themselves. Together, these participants provide the basic infrastructure that lets transfers and applications continue to work. (docs.ethereumpow.org)

Advantages & Challenges

EthereumPoW’s clearest feature is its combination of mining and Ethereum-style smart contracts. Developers who know Ethereum tools have a familiar starting point, and users who prefer proof of work have a chain built around it. Its shared pre-fork history also meant that account and contract records were present from the start. Keeping those records usable as services, however, takes ongoing work beyond running the blockchain itself. (github.com)

That need for ongoing work is a major challenge. Applications depend on builders, wallet support, and outside services. EthereumPoW must develop those connections through its own community while Ethereum follows a separate technical path. Proof-of-work mining also uses computing equipment and electricity; Ethereum says its move to proof of stake sharply reduced its own energy use. The two chains therefore offer different ways to operate a smart-contract network, with different needs for the people who support them. (medium.com)

Where to Buy & Wallets

EthereumPoW can be purchased on Kraken and OKX, which publish ETHW purchase information on their platforms. Availability depends on a customer’s location and the services offered in that region. ETHW can also be held in a wallet that supports the EthereumPoW network. (kraken.com)

MetaMask supports adding a custom network, allowing a wallet to connect to EthereumPoW with the correct network details. EthereumPoW’s launch information identifies ETHW as the currency symbol and 10001 as the chain ID. Atomic Wallet also publishes a dedicated ETHW wallet page. When moving coins from an exchange to a wallet, the selected withdrawal network and the wallet’s receiving network need to match. (support.metamask.io)

Regulatory & Compliance

Rules affecting ETHW depend on where people live and what they do with it. In the United States, the Internal Revenue Service says that receiving a new cryptocurrency after a hard fork can create taxable income when the recipient has control over the coins. In the European Union, the Markets in Crypto-Assets framework sets requirements for crypto-asset services, including public information about the environmental effects of a coin’s consensus method. These rules concern activities around crypto assets as well as the assets themselves. (irs.gov)

Shariah compliance calls for a separate assessment. Islamic finance examines the nature of an asset and how a transaction uses it, including questions about interest and the purpose of related activities. Malaysia’s Securities Commission says certain digital assets can meet Shariah requirements and lists Ethereum’s ETH among assets it has found compliant for its regulated market. Its published list has no ETHW entry. An assessment of ETHW would therefore need to consider ETHW itself and the particular way it is used, rather than rely on Ethereum’s listing. (sc.com.my)

Future Outlook

EthereumPoW’s direction rests with the miners, node operators, developers, and application teams who continue to use it. After ETHW Core dissolved, the chain’s stated goal remained long-term proof-of-work operation with community-led governance. Future progress will depend on maintaining the network’s software and building services that people use on this chain. EthereumPoW’s ability to run smart contracts provides a base for that work; each new application still needs its own builders and users. (medium.com)

Summary

EthereumPoW is a mining-based smart-contract chain created during Ethereum’s 2022 move to proof of stake. ETHW pays for network activity and rewards miners. The project combines a shared early history with Ethereum and an independent path since the fork. Its place in the crypto ecosystem is as a working example of how an Ethereum-style network can continue with proof of work and develop applications through its own community. (ethereum.org)