On Wednesday, the team behind EthereumPoW, ETHW Core, updated the community on its mainnet launch and mining pool ahead of the imminent Merge.
In a series of Twitter posts, the team hinted that Ethereum Foundation’s resolve to accelerate its transition to proof-of-stake (PoS) via “the Merge” had necessitated EthereumPoW to develop a roadmap that will guide its operations.
According to the update, the ETHW team will deploy the mainnet of the fork chain within 24 hours of the Merge. In addition, it intends to complete several tasks after the Merge.
The tasks, as reported, include “preparing a copy of the blockchain data till the Merge height, testing the chain ID switches properly from chain ID 1 to ETHW’s mainnet ID 10001.” Additionally, the ETHW Core plans to ensure that “the full node and light node synchronization and communication are working.”
The ETHW Core warns all network users against synchronizing full-node data alone.
It hinted to the community about the availability of “a BitTorrent download link to the snapshot” for users before the Merge. According to the team, “the snapshot should be downloaded in 3–5 hours for a normal miner and exchange network.”
The ETHW Core also issued an update, suggesting a possible improvement in mining pool accessibility. It noted:
“in addition to the major mining pools (f2pool, poolin, BTC.com, etc.) that have confirmed their support of ETHW mining, some new pools are also doing mining tests based on data from our testnet.”
Similarly, the ETHW community collaborated with Ethwmine to run a backup mining pool. This pool, as reported, tends to serve as a backup pool for miners.
Impact of the Merge
One of the positive impacts of the Ethereum Merge is that it will reduce the Ethereum blockchain power usage by 99.95%. The news comes in a positive light for the NFTs project that is based on the Ethereum blockchain. Now, minting digital collectibles on the network will not require heavy electricity consumption.
There are high hopes for a change in transaction speed on the Ethereum blockchain after the Merge. Unfortunately, the difference will not become extremely obvious after the Merge. Ethereum blocks are issued once every 13 to 14 seconds on the PoW consensus mechanism. After the Merge, there will be a slight reduction to about 12 seconds, which doesn’t constitute a noticeable improvement.
ETHW recent price performance
Meanwhile, the ETHW price currently trades at $33.46 while recording a 24-hours high of $37.26. Towards the preparation for the Merge, the ETHW struggled for price stability in the last 72hours. On Monday, the ETHW started the day with a low value of $29.13.
However, the price plunged within the last 24 hours to $26.04. Though, its currently witnessing a positive price recovery as expectation remains high on the impact of the Merge on the price of the token.
