Eth merge and fork | Bitcointalksearch.org

Jackl87

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Quote from: Ivartheragnarson on September 26, 2022, 05:51:12 AM

"there were some Miners who were forking ETH to keep a PoW version so that they can continue mining". i saw this on twitter and i don't understand this. Ethereum merge is done. could anyone explain me this which contains in quotation mark ?

A fork of a crypto coin is basically taking the codebase of an existing project and modifies it a little or even a lot and then you basically have a "new" crypto project that is independent from the original one even though it is maybe 99% identical with it. There are many forks in the crypto space. We already have Ethereum Classic for example, we have Bitcoin cash and many other forks.
That proof of work Ethereum fork was created by big miner because obviously they have lost a lot of potential profit with the switch of ETH to proof of stake. That is why they tried to introduce a version of Ethereum that is still proof of work, so they can continue to mine. It seems like that project is not doing so well though.

tvplus006

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Quote from: Desscount on September 26, 2022, 11:29:52 AM

Quote from: Ivartheragnarson on September 26, 2022, 05:51:12 AM

"there were some Miners who were forking ETH to keep a PoW version so that they can continue mining". i saw this on twitter and i don't understand this. Ethereum merge is done. could anyone explain me this which contains in quotation mark ?

do you have the source link? because indeed the Ethereum merge has been completed and Ethereum has really changed its algorithm from PoW to PoS,
so I don't think Ethereum can be mined anymore, and according to the information I received, miners have switched from Ethereum to several coins such as RVN and Ethereum Classic for they mine.

Haven't you heard about the ETH PoW (ETHW) fork that was held after the Ethereum merger? For this reason, not all miners switched to mining Ethereum Classic and Ravencoin, some of them continue to mine EthereumPoW, wanting to keep their business. By the way, a lot of exchanges supported this fork: https://coinmarketcap.com/currencies/ethereum-pow/markets/

crwth

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Quote from: dimonstration on September 26, 2022, 11:17:21 AM

According to the article I provide below. 20% to 30% of the Ethereum miner migrate to different altcoins and the rest is simply shutting down because its not profitable anymore mining other tokens unlike Ethereum consistent income. I doubt that they will venture out on the ETHW since this token is just the copy of the original Ethereum and the real community support is on the ETH PoS which gives the value of this token.

Having 20-30% of Ethereum Holders of PoW would not be enough to sustain the main coin's price or something. It's not going to be as profitable as before so I doubt they would be staying with that for a long time. It's just probably a matter of time before the changes are drastic enough to make more noise.

rat03gopoh

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Quote from: Ozero on September 26, 2022, 10:37:43 AM

Can anyone tell me when ETHW will appear in our wallets?

Have you checked your ETH address in explore^[1]? The snapshot of the ETH balance was taken right at the time of the merger event, you should get it now.
If ETHW is already visible, then just add a new RPC in your metamask setting. For more details, read their blog^[2]:

1. https://www.oklink.com/en/ethw/
2. https://medium.com/@ETHW/tutorial-set-up-ethw-wallet-and-claim-airdrop-f72a3e7e090b

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Quote from: dimonstration on September 26, 2022, 11:17:21 AM

Quote from: crwth on September 26, 2022, 11:06:48 AM

With everything happening with the merge, is there a percentage on how many miners have stayed to the proof of work consensus? Because you could probably get a percentage on how many people would be willing to stay at the old version rather than move to the new one. It’s like the Ethereum classic versus Ethereum type of thing.

According to the article I provide below. 20% to 30% of the Ethereum miner migrate to different altcoins and the rest is simply shutting down because its not profitable anymore mining other tokens unlike Ethereum consistent income. I doubt that they will venture out on the ETHW since this token is just the copy of the original Ethereum and the real community support is on the ETH PoS which gives the value of this token.

https://www.coindesk.com/business/2022/09/15/ethereum-miners-are-quickly-dying-less-than-24-hours-after-the-merge/

Looking at it, ETHPow is still an IOU to this day. Its price still the same since, I think they are still working on more support. But it will be good to still have this ETH POW so there will still be an option for all tokens on top of ETH.

It must be trial and error for miners to find which is profitable, some are trying the RVN and ETC. If I would be mining, I'd go for Dogecoin using the alternative energy source.

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Quote from: Ivartheragnarson on September 26, 2022, 05:51:12 AM

"there were some Miners who were forking ETH to keep a PoW version so that they can continue mining". i saw this on twitter and i don't understand this. Ethereum merge is done. could anyone explain me this which contains in quotation mark ?

do you have the source link? because indeed the Ethereum merge has been completed and Ethereum has really changed its algorithm from PoW to PoS,
so I don't think Ethereum can be mined anymore, and according to the information I received, miners have switched from Ethereum to several coins such as RVN and Ethereum Classic for they mine.

Charles-Tim

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Quote from: Ozero on September 26, 2022, 10:37:43 AM

Can anyone tell me when ETHW will appear in our wallets?

Immediately after the fork, if you are using a noncustodial wallet. On exchanges, it depends on what the exchange talked about it. On exchanges, it is not your private key, it is not your coins, it is the exchanges that have the coins on blockchain, the exchanges may even decide not to give their users the forked coins, but they actually have it immediately after the fork.

dimonstration

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Quote from: crwth on September 26, 2022, 11:06:48 AM

With everything happening with the merge, is there a percentage on how many miners have stayed to the proof of work consensus? Because you could probably get a percentage on how many people would be willing to stay at the old version rather than move to the new one. It’s like the Ethereum classic versus Ethereum type of thing.

According to the article I provide below. 20% to 30% of the Ethereum miner migrate to different altcoins and the rest is simply shutting down because its not profitable anymore mining other tokens unlike Ethereum consistent income. I doubt that they will venture out on the ETHW since this token is just the copy of the original Ethereum and the real community support is on the ETH PoS which gives the value of this token.

https://www.coindesk.com/business/2022/09/15/ethereum-miners-are-quickly-dying-less-than-24-hours-after-the-merge/

crwth

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With everything happening with the merge, is there a percentage on how many miners have stayed to the proof of work consensus? Because you could probably get a percentage on how many people would be willing to stay at the old version rather than move to the new one. It’s like the Ethereum classic versus Ethereum type of thing.

jamyr

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Quote from: Ivartheragnarson on September 26, 2022, 06:12:39 AM

Quote from: Charles-Tim on September 26, 2022, 06:05:16 AM

EthereumPoW (ETHW) is a hardfork of ether after the merge. Some miners wants to continue to use miners to mine ether, but ether is now using PoS instead of PoW. Because of this, during the merge, few miners support PoW which result to the hardfork known as ETHW now.

Quote from: Ivartheragnarson on September 26, 2022, 06:03:44 AM

so can we see that coin anywhere ? does it exist ?

Yes. Check the exchanges it is listed on using the link below.

https://coinmarketcap.com/currencies/ethereum-pow/markets/

oh i just checked it and looks like worthless. does it still support smart contract functionality ?

According to what I found its trading at $10 but started at around 40 after the merge.
It probably would go down to zero when everybody abandons the POW chain and move to the PoS consensus.

Just an opinion, it probably are the banks mining some of the blocks now. I mean they have the funds etc etc.

Ozero

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Quote from: hugeblack on September 26, 2022, 09:07:22 AM

Quote from: Ivartheragnarson on September 26, 2022, 06:09:15 AM

so does make any sense while most of miners are use eth 2.0 ??

They are trying to achieve some gains if there is any problem happen to ETH after merging, but until this moment there are no problems and therefore this coin is worthless.
I do not advise you to buy it, but if you had ETH before the merge, you will get the same free coins ETHW as it happened with Bitcoin and Bitcoin Cash.

Earlier it was said that ETH holders should automatically receive the same amount of the new ETHW fork. This has usually happened in the past. Some exchanges are already claiming that those who held ETH on their exchange have already received ETHW. But I don't see ETHW in my wallets next to ETH yet. At the same time, there was information that there were some problems with the appearance of the ETHW fork. Can anyone tell me when ETHW will appear in our wallets?

dothebeats

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Quote from: ?? on ??

Quote from: Ivartheragnarson on September 26, 2022, 06:12:39 AM

Quote from: Charles-Tim on September 26, 2022, 06:05:16 AM

EthereumPoW (ETHW) is a hardfork of ether after the merge. Some miners wants to continue to use miners to mine ether, but ether is now using PoS instead of PoW. Because of this, during the merge, few miners support PoW which result to the hardfork known as ETHW now.

Quote from: Ivartheragnarson on September 26, 2022, 06:03:44 AM

so can we see that coin anywhere ? does it exist ?

Yes. Check the exchanges it is listed on using the link below.

https://coinmarketcap.com/currencies/ethereum-pow/markets/

oh i just checked it and looks like worthless. does it still support smart contract functionality ?

It is trading over 10$ a token, how can you say it is worthless? It is not yet possible to draw a conclusion whether this ETHW is useless or will grow in the future. It is too early to declare anything. These days a lot of investors sold it after receiving the airdrop, but I believe it will have a great hype before its fate is decided.

BCH and other bitcoin forks used to be this way, and in the end the community decided that their money is better invested on the main network instead of a fork that has a lot of issues in the community and implementations as well. ETHW's principle is kinda noble, considering that a lot of people supported this fork and maintained it until the end. Just another community divide I guess, that a lot of people are cashing in.

Charles-Tim

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Quote from: ?? on ??

It is trading over 10$ a token, how can you say it is worthless? It is not yet possible to draw a conclusion whether this ETHW is useless or will grow in the future. It is too early to declare anything. These days a lot of investors sold it after receiving the airdrop, but I believe it will have a great hype before its fate is decided.

You can not use the price to determine if a coin is worthless or not. Marketcap is used. I just checked Coinmarketcap now to check the marketcap of ETHW, it has $120 million in marketcap. Not yet listed on many exchanges, like Binance. Probably the marketcap might still increase if other exchanges are listing it and its tokens and also if NFT market sites are accepting its NFTs.

hugeblack

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Quote from: Ivartheragnarson on September 26, 2022, 06:09:15 AM

so does make any sense while most of miners are use eth 2.0 ??

They are trying to achieve some gains if there is any problem happen to ETH after merging, but until this moment there are no problems and therefore this coin is worthless.
I do not advise you to buy it, but if you had ETH before the merge, you will get the same free coins ETHW as it happened with Bitcoin and Bitcoin Cash.

Charles-Tim

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Quote from: Ivartheragnarson on September 26, 2022, 06:12:39 AM

oh i just checked it and looks like worthless. does it still support smart contract functionality ?

Definitely, it has smart contract functionality. Smart contract functionality was not what led to the fork, ethereum already has the functionality before the recent merge where ETHW forked from.

Ivartheragnarson

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Quote from: Charles-Tim on September 26, 2022, 06:05:16 AM

EthereumPoW (ETHW) is a hardfork of ether after the merge. Some miners wants to continue to use miners to mine ether, but ether is now using PoS instead of PoW. Because of this, during the merge, few miners support PoW which result to the hardfork known as ETHW now.

Quote from: Ivartheragnarson on September 26, 2022, 06:03:44 AM

so can we see that coin anywhere ? does it exist ?

Yes. Check the exchanges it is listed on using the link below.

https://coinmarketcap.com/currencies/ethereum-pow/markets/

oh i just checked it and looks like worthless. does it still support smart contract functionality ?

Ivartheragnarson

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Quote from: Charles-Tim on September 26, 2022, 06:05:16 AM

EthereumPoW (ETHW) is a hardfork of ether after the merge. Some miners wants to continue to use miners to mine ether, but ether is now using PoS instead of PoW. Because of this, during the merge, few miners support PoW which result to the hardfork known as ETHW now.

so does make any sense while most of miners are use eth 2.0 ??

Charles-Tim

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EthereumPoW (ETHW) is a hardfork of ether after the merge. Some miners wants to continue to use miners to mine ether, but ether is now using PoS instead of PoW. Because of this, during the merge, few miners support PoW which result to the hardfork known as ETHW now.

Quote from: Ivartheragnarson on September 26, 2022, 06:03:44 AM

so can we see that coin anywhere ? does it exist ?

Yes. Check the exchanges it is listed on using any of the links below.

https://coinmarketcap.com/currencies/ethereum-pow/markets/
https://www.coingecko.com/en/coins/ethereumpow#markets

Ivartheragnarson

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Quote from: NotATether on September 26, 2022, 05:59:57 AM

Quote from: Ivartheragnarson on September 26, 2022, 05:51:12 AM

"there were some Miners who were forking ETH to keep a PoW version so that they can continue mining". i saw this on twitter and i don't understand this. Ethereum merge is done. could anyone explain me this which contains in quotation mark ?

Just before the merge, they forked Ethereum to make a new coin called ETHPoW. It has the same PoW algorithm as old Ethereum.

so can we see that coin anywhere ? does it exist ?

NotATether

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Quote from: Ivartheragnarson on September 26, 2022, 05:51:12 AM

"there were some Miners who were forking ETH to keep a PoW version so that they can continue mining". i saw this on twitter and i don't understand this. Ethereum merge is done. could anyone explain me this which contains in quotation mark ?

Just before the merge, they forked Ethereum to make a new coin called ETHPoW. It has the same PoW algorithm as old Ethereum.

Ivartheragnarson

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"there were some Miners who were forking ETH to keep a PoW version so that they can continue mining". i saw this on twitter and i don't understand this. Ethereum merge is done. could anyone explain me this which contains in quotation mark ?

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