Justin Sun, Poloniex, Huobi Support Chandler Guo’s EthereumPoW Fork For Miners
The support for prominent crypto miner Chandler Guo’s EthereumPoW (ETHPoW) plan seems to be rising as Tron founder Justin Sun, crypto exchanges Poloniex, and Huobi have expressed support for the EthereumPoW hard fork and tokens ETHW and ETHS.
Justin Sun’s Poloniex Promises Support for ETHW and ETHS
Tron founder Justin Sun-backed Poloniex crypto exchange in a tweet on August 4 announced support for the EthereumPoW plan of Chinese miner Chandler Guo. Moreover, Poloniex stated it was the world’s first exchange to support Ethereum (ETH) and Ethereum Classic (ETC), now it will help expand the Ethereum ecosystem by supporting the EthereumPoW fork. The crypto exchange will also list forked tokens ETHW and ETHS.
Justin Sun in a tweet claim they have 1 million Ethereum (ETH). If the planned Ethereum hard fork worked, he will donate some ETHW to the community and builders to continue expanding the Ethereum ecosystem.
“We’ve witnessed the consensus mechanism of POW as a key factor driving the expansion of Ethereum ecosystem, and are willing to continue to support the development of the community.”
After the fork, Ethereum holders on Poloniex will receive forked tokens ETHW or ETHS in 1:1 ratio. However, Ethereum holders need to swap their ETH to either ETHW or ETHS on the swap page before the official Ethereum Merge. Users will also be allowed to revert back the swap before the Merge.
Post-Merge, ETHS will be automatically converted into the ETH, if the upgrade ends up with more than one chain. The PoW chain with more hashrate will serve as the main chain for ETHW. If the ETH 2.0 upgrade completes without a fork, Poloniex will suspend and delist the ETHS and ETHW tokens.
Others to Support the EthereumPoW
The transition to PoS with the Merge will make Ethereum miners obsolete. Thus, prominent crypto miner Chandler Guo plans to fork Ethereum and create the EthreumPoW (ETHPoW) chain helping miners to continue generating cryptocurrency.
Huobi cryto exchange, Huobi Research, Web3 community aWSB, Wagmi33 Foundation, and others seem to have joined the campaign.
“We have received 83 donations since then. We’ve also got free servers, AWS credits, and voluntary engineers and designers from the community. We are so blessed to have you all.”
- Ripple’s Chris Larsen Expands XRP Realized Profit to $764M Amid Evernorth Deal
- Just In: Hyperliquid Strategies Eyes $1B Capital Raise, Plans HYPE Token Accumulation
- Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple
- How the Crypto Market Could React to the Next Fed Meeting on October 29?
- $1.68 Trillion T. Rowe Price Files for First Active Crypto ETF Holding BTC, ETH, SOL, and XRP
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
