As Ethereum migrates to a proof of stake (PoS) ecosystem (called the Merge), a group has decided to maintain a proof of work iteration or Ethereum Proof of Work (ETHPOW). While not making Vitalik Buterin very happy, this is the way of the blockchain world.
Not a single person in our community gets, got or will get a single dime from working on keeping the PoW. The donations are untouched. Volunteers are using their own credit cards to pay for servers and are not financially compensated for their efforts. Where is the quick buck? https://t.co/GLqvsjIfMY
— EthereumPoW (ETHW) Official (@EthereumPoW) August 8, 2022
In light of this development, BitMEX – a crypto derivatives trading platform that now also offers spot trading, has announced it will offer ETHPOW trading with up to 2X margin available.
According to a blog post, ETHPOWZ22 is a linear futures contract, margined in USDT.
Of course, the contract is not yet available as ETHPOW is not yet live in the wild and BitMEX notes it may never be.
Other platforms are poised to support the forked Ethereum. Huobi has announced that it has an “objective and neutral attitude” towards the fork and will support it if it adheres to certain requirements. If there is demand, you can be certain that crypto exchanges will supply.
Meanwhile, EthereumPoW, the entity working on the fork, says a white paper will be available soon. The organization as it accepts donations for product development.
