According to a thread on Monday’s @EthereumPoW twitter feed, Ethereum’s proof of work fork will take place 24 hours after the Merge.
Although the thread didn’t specify a time, it stated that this information would be announced “1 hour before launch with countdown timer.” The Merge is scheduled to occur on Thursday.
“…All code including binaries, config files and nodes info. RPC, Explorer, etc. The thread stated that the information would be made public once the time is up.
To ensure that the chainID converts into 10001 and that the ETHW chain is the longest… of ETHW, the ETHW mainnet will start at “the block height” of the Merge Block ‘plus’ 2048 empty block blocks.
The first to record any transactions on ETHW will be Merge Block +2049. The thread stated that block rewards for empty blocks would be sent to the 1559 multisig wallet.
What is the ethereum merge?
Merge is a technological upgrade to the Ethereum blockchain. It will change its protocol from proof of work to proof-of stake. The Merge supporters claim that the change will improve the speed and energy efficiency of the blockchain.
Some Ethereum miners, those who use computers to validate and process transactions on the existing proof-of-work network (PoW), plan to keep it up and running.
Although the forked network will have the appearance and feel of Ethereum, it will not be the real thing. Instead, it will consist of apps and tokens that are floating around with no usage or value.
Justin Sun is a cheerleader of the EthereumPOW token ETHW, but there are still questions about how much traction it will get against the established Ethereum Classic that maintains PoW. In a few weeks, the market cap and trade volumes will provide an answer to this question.