After The Merge, the Ethereum PoW chain disclosed its plans for the mainnet. The chain is a fork of the platform that will use the proof-of-work mechanism to continue operations. On September 13, the official PoW Twitter handle announced its main net plan, providing numerous details.
The ETHW mainnet will release within 24 hours of The Merge, and a timer will be visible one hour before the launch. The initial mining challenge will be no less than 220 T, corresponding to a hash rate of 15 TH/s. The mainnet will begin at The Merge block height plus 2048 empty blocks "to ensure that the chainID successfully switches to 10001 and the chain is the longest sequence of ETHW."
The Twitter handle also published all of the information required to prepare full nodes for ETHW. It provided several options for downloading the complete node data.
Ethereum PoW is a fork that will continue to provide support mining, which is a significant source of revenue for many people. Chandler Guo, a Chinese cryptocurrency miner, announced it in late July 2022.
Data mining prior to The Merge
The Merge is one of the most expected events in recent memory, as evidenced by the achievement of various metrics. The number of unique addresses has increased significantly in the last 45 days, with an average of 70,000 new addresses added between August and September.
Surprisingly, revenue from mining has also been high. In the final month before The Merge, ETH mining revenue outperformed bitcoin. Revenue increased by 21% from $620.65 million in July to $756.11 million in August.
The stake switch has a significant impact on miners
The shift to proof-of-stake has had a massive impact on crypto mining. Options to Ethereum, such as Ethereum Classic and Ravencoin, have seen a significant increase in popularity as miners seek to maintain their earnings.
Raven Coin mining has exploded as The Merge has approached. The price of the RVN token has increased by 71.4% in the last seven days, and FTX has also begun providing an RVN perpetual futures product.
Are you looking forward to seeing how Ethereum handles this massive change? Or will they be able to maintain its lead in to crypto world after making this change? Drop your thoughts by sharing this on social media.