The transition from Ethereum to Proof-of-Stake not having met with unanimous approval, part of the ecosystem decided to continue with Proof-of-Work. The latter have therefore launched a fork of the old version of the network known in particular as EthereumPoW (ETHW). While this one seems to be getting all the attention from the crypto community, another PoW fork, Ethereumfair (ETF), difficult to make themselves known to the public.
Lower stats than EthereumPoW
Thanks to a media campaign carried out weeks before the launch of Merge, EthereumPoW quickly established itself as “the PoW fork” of Ethereum (ETH). However, few people know that the Ethereumfair team’s Twitter account has been around since January 2020, and that it has only less than 1,000 subscribers than that of the EthereumPoW team. Like the ETHW, the ETF also experienced a 17% drop in the day of September 18. The asset notably managed to record an all-time high of $20.59 two days earlier before collapsing below one dollar.
Ethereum Classic (ETC) being the first alternative of former Ethereum PoW miners, its statistics allow to appreciate the performance of EthereumPoW and Ethereumfair. According to data collected by 2miners.com, Ethereum Classic enjoys a hashrate of 219 TH/s. By comparison, the combined hashrate of ETFs and ETHWs is just over 20% of that total. Nevertheless, ETHF’s hashrate is only one-fifth that of ETHW’s. Sue ETH, when it comes to price, ETC is trading at $28 per unit at the time of writing, while ETHW and ETF are 22% and 4.73% of that value respectively. .
A potential battle is therefore looming between the two blockchains to find out which one will ultimately be adopted by miners who have left Ethereum and PoW followers. Despite a considerable lead, EthereumPoW will still have to be wary of Ethereum Classic’s ability to drain part of this world. Meanwhile, Dogecoin has taken over from Ether as the second-largest PoW-based crypto by market capitalization.
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