Over the weekend, Poloniex listed EthereumPoW (ETHW) on its exchange. It is the first exchange to support ETHW trading, with ETHW perpetual contracts set to launch later this month.
Poloniex is one of the oldest and most trusted cryptocurrency exchanges in the market. Founded in early 2013, Poloniex supports not only spot and futures markets, but also NFT trading.
The exchange is currently owned by Tron founder, Justin Sun. The China-born tech entrepreneur also pledges to donate some ETHW to the community and developers to build the whole forked Ethereum Poof-of-Work ecosystem if the fork succeeds.
How Many Forks?
The merge upgrade from Proof-of-Work (PoW) to Proof-of-Stake (PoS) could produce an Ethereum PoW fork.
Influential Chinese crypto miner, Chandler Guo, announces that he will fork the Ethereum network. Previously, Chandler Guo played a significant role in the creation of Ethereum Classic.
The potential Ethereum PoW fork would also have its own native token different from the current ETH token. Poloniex listed both ETH tokens with the Proof-of-Stake token as ETHS and the Proof-of-Work token as ETHW.
At the time of writing, $ETHW is trading at 0.06 ETH or 119 USDD and $ETHS is trading at 0.9 ETH or 1612 USDD.
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: CoinPedia
Also Read: Why The Ethereum Merge May Double Your Net Worth – And Collapse Crypto