The Ethereum PoW chain has announced its plans for the mainnet following The Merge.
It has also released information on how to prepare full nodes for ETHW.
The Ethereum PoW chain has revealed its plans for the mainnet following The Merge. The chain is a fork of the Ethereum network that will use the proof-of-work mechanism to continue. The formal
The ETHW mainnet will launch within 24 hours of The Merge, with a timer visible one hour before launch. The initial mining difficulty will be no less than 220 T, or a hash rate of 15 TH/s. The mainnet will begin at The Merge block height plus an additional 2048 empty blocks "to ensure that the chainID successfully switches to 10001 and the chain is the longest chain of ETHW."
The Twitter handle also released all of the information needed 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 support the mining process, which was an important stream of revenue for many. It was started by Chinese crypto miner Chandler Guo who made the announcement in late July 2022
Data mining prior to The Merge
The Merge is one of the most anticipated events in recent memory, as evidenced by the performance 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 Ethereum mining has also been high. In the final month before The Merge, ETH mining revenue outperformed bitcoin. Revenue increased 21% from $620.65 million in July to $756.11 million in August.
The staking switch has a significant impact on miners.
The transition to proof-of-stake has had a massive impact on mining in the cryptocurrency market. As miners seek to maintain their income, Ethereum alternatives such as Ethereum Classic and Ravencoin have seen a significant shift.
Ravencoin mining has exploded as The Merge approaches. The price of the RVN token has increased by 71.4% in the last 7 days, and FTX has begun offering an RVN perpetual futures product.