PoW to PoS Network Change
With the introduction of the new Ethereumpow (ETHW) blockchain, ether holders are qualified to earn one ETHW for every ether they currently own.
The blockchain for Ethereum changed from a proof-of-work (PoW) system to a proof-of-stake (PoS) system, and Ethereum miners decided to mine a few new coins, including Ethereum Classic and Ravencoin.
The new Ethereumpow network has some miners switching over, and the blockchain has been operational for more than two weeks. 52.27 terahashes per second (TH/s) of hash rate currently allocated to the ETHW network at the time of writing.
In addition, within the past 24 hours, the ETHW token has traded for between $10.96 and $12.16 per unit. In the past two weeks, the USD value of ETHW has increased by 20.6%, and according to seven-day figures, the token has increased by 49.1%.
But as of October 1, 2022, ETHW has fallen by almost 7% in value versus the US dollar. Owners of ETH have been receiving access to their currencies since the ETHW network launched because they are qualified to receive ETHW at a 1:1 ratio.
Pre-merge Ethereum traders can unlock ETHW. They need only a wallet such as the Metamask wallet by slowly adapting the system a little. Owners of ETH can also use several techniques, such as transferring their seeds into a wallet that enables the platform or Metamask.
If you previously owned ETH on Crypto.com’s DeFi wallet, you could add the token by checking for balances. Just by using some wallets, such as Crypto.com’s DeFi wallet.
A step-by-step guide to acquiring your tokens
The remainder of this blog assumes you already have ETH in a Metamask wallet, but if not, you may transfer your ETH wallet onto the Metamask system and retrieve the assets from there.
Step 1: The first step is to enter the Metamask settings section in your wallet, supposing you already have one and it previously contained Ethereum (ETH) well Before Merge or just before September 15. Users can click the profile icon and then choose “settings” to view the options.
Step 2: A section labeled “network” will be available in the Metamask “settings” area. Look on the left portion of the screen, and a plug symbol will be located directly next to it.
Step 3: When you click “network,” the subsection will lead you to a page. This lists all the systems to which your wallet is currently linked.
Step 4: From there, click “add network.” Metamask will alert you to potentially harmful networks once you click the “add network” option.
Step 5: The fields for entry required to connect to the ETHW network are listed below the alert. The “Network Name,” “New RPC URL,” “Chain ID,” “Currency Symbol,” and the “Block Explorer URL” are the five sections that must be completed. All you need to do to join the ETHW network is to use the RPC information.
Step 6: Simply click “save” after completing all the forms to join the ETHW connection. Irrespective of how much Ethereum was initially in the wallet, the wallet should now show a balance of ETHW. This can access whenever plugged into the network.
From here, the new tokens may be moved to another account or address. It can be stored or sold by sending it to an exchange platform. If you are planning to sell these acquired tokens, confirm that the trading system is ETHW chain compatible.