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.
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.
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.”
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