Rumors of Ethereum Spinoff ETHPOW Emerge Before PoS Shift

With Ethereum’s shift to a new proof-of-stake system planned for September, there is already speculation that some Ethereum miners will break away to stick to the proof-of-work system that the network uses now.

A tweet from Chinese crypto miner Chandler Guo hinted towards a a campaign for an Ethereum fork. The crypto miner has also come up with a name for his new Ethereum spinoff cryptocurrency, ETHPOW. Written in the Chinese-language, Guo’s post said:

“Ethpow will be coming soon.”

A follow up tweet said:

“I fork ethereum once, I will fork it again!”

Alongside, analysts at cryptocurrency exchange BitMEX said in a blog post that a ETHPoW might gain some traction. They wrote:

“Although there are many technical challenges that ETHPoW faces, as long as the chain survives, it looks likely that there could be positive narratives around the coin and leading centralized exchanges are likely to list it.”

The analysts dropped the below advise how to come out a winner if an Ethereum spinoff manifests:

The post concluded:

“ETHPoW may generate a lot of excitement, and we predict that ETH vs ETHPoW will be a popular trading pair post-split, at least until another interesting dynamic comes along.”