Multiple transfers of the transition of Ethereum to a new algorithm, which gave reason to believe that the event would never take place, still did not prevent The Merge from taking place. As a result, the possibility of mining ether disappeared. But its fork appeared, EthereumPoW, to which the community is currently very skeptical and even suspicious. Let’s figure out whether to trust such innovations!
On the one hand, such an attitude can become an obstacle to the development of a new coin. But on the other hand, if we evaluate the situation objectively, this is quite normal, since not all representatives of the crypto community supported the transition to a new algorithm, considering it beneficial only for a small group of people.
In any case, everything has already happened and the world sees a new fork of Ethereum in front of it. Consider how to mine EthereumPOW and other features of the coin.
ETHPoW: choosing a digital wallet
Selecting and obtaining a digital wallet is the first step to be taken. If we talk about the exchange, then we can consider the following options:
Poloniex: ETHW/USDT, ETHW/ETH
Gate.io: ETHW/USDT, ETHW/ETH
MEXC, Phemex, Bitrue: ETHW/USDT
In addition to crypto exchanges, MetaMask and Coinbase Wallet wallets are suitable for the new Ethereum fork.
EthereumPow mining pool
At the time of this writing, EthereumPOW mining is possible on 30 pools. Here are the main ones and the amount of commissions:
2miners (1% PPLNS)
F2pool (1% PPS)
Woolypooly (0,9% PPS, 0,9% Solo)
Poolin (1% PPLNS)
Nanopool (1% PPLNS)
Antpool (1,5% PPS)
Jniupool.com (0% PPS+)
Given that this ETHW coin was created directly for mining, the likelihood that the number of pools will only grow is quite high. However, the most important question is how quickly the community will be able to accept the EthereumPOW cryptocurrency and make it a tool for earning, thereby increasing interest and forcing the rate to grow.
Mining EthereumPOW: programs
As mentioned above, this coin is a fork of ETH. In this regard, this cryptocurrency can be mined ETHW in the same way as the main coin.
These programs work with video cards from both manufacturers, and are also suitable not only for Windows, but also for Linux.
Setting up a program for mining under ETHW
Let’s take the most popular Phoenixminer program as an example and analyze its setup for EthereumPOW mining in detail.
Ready. Bat file looks like this:
Let’s take a closer look at all the steps:
PhoenixMiner.exe is a software key. It must be left in its original form, because it indicates which program was launched.
-pool ssl://ethw.pool-moscow.ru. Here you need to specify the pool server.
:9009 (displays the port of the pool). Since we have ETC, we will leave Nano Pool.
-wal 0x1DE28FDcfF94656CBaCe3557FF1239CC0F61a3cE. This will require your digital wallet address.
-worker Bytwork. Specify the name of the farm worker to have easy access to tracking statistics.
-pass x (password on the pool). This parameter is almost never used, so we leave it unchanged.
-log 0. Here you can log miner events. To run the program, set the -log 1 parameter.
-coin. We choose a coin.
pause. In this case, the miner will show an error code if you make incorrect settings.
Now you need to save the .BAT file and get started.
Exchanges that work with ETHPoW
Despite the fact that the coin is new, there are already a sufficient number of exchanges that work with it. For example:
Many representatives of the cryptosphere considered listing on exchanges as the most important indicator of the success of a coin. Moreover, there were those who did not believe that this moment would come. As time has shown, ETHPoW has appeared on the exchanges, but it is still impossible to say with certainty that its position in the market is absolutely strong.
Prospects for EthereumPoW in the future
Based on the fact that the coin was created rather contrary to the new stage of Ethereum development, many experts are very skeptical when it comes to the future of ETHPoW.
The fact is that now most of the coins are created for some economic purpose and carry specific functions. But the Ethereum fork does not have any completely innovative and certainly useful features, and it is not yet clear how exactly it can conquer the market. It is with the lack of an economic base and usefulness that analysts associate the weak potential of the coin.
Do not forget that already at the initial stage of its appearance, the coin faced a lot of negativity from the crypto community. If a cryptocurrency is not a stablecoin, then it is devoid of any security of traditional assets and rests on the trust of the community. In this regard, the power of this influence cannot be underestimated, which means high risks from such rejection.
During the start of the launch of ETHPOW, a serious server failure occurred, which brought down the value of the altcoin. This led to more denial of the fork and investor frustration.
Thus, the negative factors include:
Lack of a clear purpose of creation
Lack of features that can interest the market
High risks of technical failures
Negativity from the community
However, it would be incorrect to say that the EthereumPOW cryptocurrency has no prospects. First of all, due to the fact that, despite the negative, there is also interest from the community. Basically, these are those who opposed the transition to a new algorithm, considering it a way to enrich a small number of people.
The fact that many exchanges have already started listing the coin is also a positive sign. Do not forget that the volatility of the crypto market is a source of not only problems and losses for investors, but also great opportunities. Therefore, to say that EthereumPoW will not be able to start active growth would be wrong.
It is also important that too little time has passed since the appearance of the coin to make any unambiguous conclusions. All the negative aspects that have already happened can be attributed to the complexity of the launch.
Thus, EtherumPoW is a fork of the ether, which was developed as a counterbalance to the transition to a new algorithm. Despite all the difficulties, the altcoin is not without prospects, so time will tell its viability.
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