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The second cryptocurrency by market capitalization is crossing into a new era. The update known as “The Merge” will soon replace the classic Proof-of-Work (PoW) system with Proof-of-Stake (PoS). In other words, there won’t be more crypto mining on this blockchain. And, after the Ethereum Merge, you could also get some free tokens if you’re already an ETH holder.

To understand that last part, we need to talk a bit about blockchain forks. They happen when a whole network is cloned to apply changes in the new copy, but always parting from the original. That’s why the “fork” part: one way (blockchain) splits into two or more at some point.

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Such an event could happen for so many reasons: an update, an accident, a “template” to create a new chain, or an ideological division among the founders of the same coin —something that recently happened on EOS. Now, about Ethereum (ETH), not everyone agrees with The Merge. Especially not the miners, who will be forced to migrate to other chains or cease operations after the upgrade.

To solve this, a team of developers and miners led by the crypto miner Chandler Guo are planning to fork Ethereum. On that new chain, they’ll preserve the PoW system —and mining. So, they’re calling this new project EthereumPoW (ETHW) and will launch the mainnet 24 hours after the original Ethereum Merge. The testnet was already released, and the team is open to new partnerships.

Some exchanges and wallets will support this coin, but not all of them. It’s been calculated that every ETHW could be traded at around $18 if the fork it’s successful.

How to get ETHW after Ethereum Merge

Since EthereumPoW (ETHW) will be an Ethereum (ETH) fork, every bit of the original network will be copied, including transactions and wallet balances. Therefore, if you have any balance in a non-custodial Ethereum wallet by the moment of the fork, the same balance will be copied in EthereumPoW. So, for example, if you already have 1.3 ETH in your wallet, you could also get 1.3 ETHW as well.

That doesn’t mean your money will be doubled from thin air, though. Clearly, ETHW would be a new coin, with a different (and lower) value from the original ETH. So, 1.3 ETH won’t have the same price as 1.3 ETHW. However, independently of the amount, it’s completely free to claim it.

Ethereum-Merge-free-tokens

To recover that extra balance, it’s important to have the original ETH coins in an ETHW supporter wallet. They can give instructions to their users about it, or the process can be automatic. You can also send your coins to these platforms to recover the tokens after the Ethereum Merge.

In the meantime, we can note that Ethereum (ETH) increased by over 12% in the last week, while Bitcoin (BTC), likely boosted by it too, gained 18% during the same period [CMC]. The Merge will come in approximately two days, as even Google has shared in a countdown.  


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Author

I'm a literature professional in the crypto world since 2016. It doesn't sound very compatible, but I've been learning and teaching about blockchain and cryptos for international portals since then. After hundreds of articles and diverse content about the topic, now you can find me here on Alfacash, working for more decentralization.

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