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What is EthereumPoW?
Hey there! Welcome to the PoWTomb beginner's guide! We want to make this as quick and simple as possible.
EthereumPoW (EthW) was created on the 15th of September, 2022 during a hard fork as Ethereum shifted to a Proof-of-Stake (PoS) mechanism and away from Proof of Work (PoW). We firmly believe that the merge was a mistake, and PoW is the more secure mechanism for blockchain longevity and general cryptonomics. Over 50% of the current staking power is in the hands of just three entities. This means that as Ethereum shifted to PoS, the control of the blockchain was ceded to three centralised conglomerates. EthereumPoW was created to replace Ethereum as the most updated version of Ethereum that is still utilising a PoW consensus mechanism. The hash-rate of EthW continues to increase as miners around the world are recognising that EthPoW is the way forward. As for us, the PoWTomb team, we aim to successfully bring first-hand utility to the EthW chain, in the form of farms, nodes, and other products/protocols in the short and long term.