Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: amberrrr789 on September 30, 2022, 03:50:44 PM
-
Despite the fact that ETHW is not listed on Binance, the exchange yesterday declared that it will launch an Ethereum Proof-of-Work mining pool. The merge changed the Proof-of-Work mechanism in Ethereum's network to the more scalable and environmentally friendly Proof-of-Stake mechanism. ETHW, on the other side, is the fork of Ethereum that will keep using the original Proof-of-Work algorithm. Supporters of PoS (ETH) frequently criticize PoW for its enormous energy consumption during mining.
At the time of writing, the price of ETHW on September 29 is $11.968, an increase of 11.38% (during the previous 24 hours). It's important to note that on September 15, when the merger took place, ETHW was trading at $9.13, down 71.55% from the previous day. We might be able to witness a more significant price increase in the near future when more centralized exchanges establish and list ETHW mining pools.
Supporters of PoW think that PoW offers a higher level of security. Additionally, nearly 40% of the total energy utilized in mining worldwide is renewable energy, according to Smart Energy. MEXC Global lists ETHW to provide users the option to select between PoW and PoS.
-
The aim of every organization in this market is to make a profit for themselves. Binance is the same, they will do everything to create money to become stronger, expand the market, have more users. I think in the future, Binance will also list ETHW for additional user transaction fees. ETHW will also be abused like BCH to entice investors to the crypto market.
-
FTX and Kucoin add ETHW to get a lot of benefits, as we can see ETHW does not have a maximum supply amount, this is almost the same as Ethereum when using POW consensus.
I think Binance supports this because the interest from the crypto community is very high for mineable coins, so I'm sure Binance will list ETHW after many new projects that use the ETHW ecosystem.
https://pow.wagmi33.org/ETHW
-
I am glad to see the rise of price for ETHW because I am sure that even in this forum many of us received the said fork coin. And who would not love a free coin that is rising in value? Now, Binance must be thinking that can be a good future with this fork coin so soon it can be listing the same...for where there can be money to be made Binance will always be there presenting itself as a big leader.