Key Takeaways:
- How to access ETHW tokens? Several quick steps.
- What to do with ETHW tokens?
- ETHPoW network criticism grows.
YEREVAN (CoinChapter.com) – The long-awaited Ethereum Merge commenced on Sep. 15, ensuring the network’s transition to proof-of-stake consensus. Meanwhile, proof-of-work supporters forked their way into ETH mining and remained behind as ETHPoW (ETHW), raising the question of how to claim the new token.
How to access ETHW coins?
First and foremost, the necessary precondition for accessing ETHW coins has a wallet that held Ethereum tokens before the Merge. If that’s the case, the wallet holder will automatically get a one-to-one ratio of ETHW tokens. After that, however, it is necessary to add several settings to a Metamask wallet to see and access the said coins.
Step #1: Add ETHPoW as a Network
Users should add the ETHPoW as one of their Networks by opening the ‘networks’ menu and clicking on ‘add network.’
Step #2: Fill in the necessary information
Once the ‘add network’ menu opens, it will require users to fill out several fields, such as New RPC URL, Chain ID, etc.
The ETHPoW network provided the information above in a tweet on Sep. 15.
Users can then fill in the blanks and click ‘save.’ Once saved, the Metamask wallet should display the ETHW balance, which the holders can either keep or send to an exchange.
ETHW support
According to CoinMarketCap, several trading platforms already listed ETHW, including ByBit, FTX, Huobi Global, and Kraken.
ETHW drops 62% in a day
While the excitement over the Merge built, the ETHPoW price dropped 62% since peaking at $40 on Sep. 15 and traded at just over $14 in Friday’s European session.
Notably, the network had critics before its launch, including Ethereum Classic developer Igor Artamonov. On Sep 13, he bashed ETHPoW for taking a “stupid” approach and leading with “miners need to earn money” rather than “PoW is more secure.”
Additionally, the developer commented on the lack of professionals on the team and the unfortunate launch timing.
Because it’s a migration from PoW to PoS, the best moment to launch ETHPOW is a few hours before The Merge. That would slow down the main chain and steals all attention at the most critical moment. E-v-e-r-y-o-n-e would talk about it. They ignore such an opportunity.
said Artamonov.
Other critics joined the narrative, but ETHPoW attempted to fight back.
Learn more about ETHPoW here, and see whether it could provide the needed support for ETH miners.
