The mining-based Ethereum ecosystem continues to grow
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Answer The mining-based Ethereum ecosystem continues to grow
The minable version of Ethereum has been getting a lot of attention since it emerged as a split from the Ethereum mainnet that switched to mining rather than mining last month.
The fork was produced by Ethereum miner Chandler Guo and a former ICO investor, who tweeted on October 14 that more than 100 projects had been launched on the mining-based Ethereum network in just one month.
The need for blockchain networks supporting mining:
Vitalik Buterin, one of the founders of Ethereum, tried to push Ethereum Classic as a network for miners, but Chandler Geo emphasized that it had no ecosystem, and that mining-based Ethereum was first and foremost.
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And early support from leading mining pools, such as F2Pool, Poolin, AntPool, Nanopool and BTC.com, means that PoW-based Ethereum will live on.
On October 13, Wu Blockchain posted on its Twitter numbers about the EthereumPoW ecosystem, stating that the network has at least 80 “eco-dapps” or services running on it, including DeFi, GameFi, DEX and NFT.
His tweet was as follows:
As a public network that is less than a month old, its ecosystem is already as well built as its neighboring competitor Ethereum Classic, which has been around for several years.
Several projects were mentioned from the “Wagmi33 Foundation” list and these included:
DEX platforms such as LFGSwap and UniWswap and stable projects such as PaperDAO, ShibaW fake memecoins, and non-fungible token platform Nuwton.
Wagmi33 is also supporting the development of a service called WENS that will compete with Ethereum-based ENS.
Chandler Guo dismissed environmental concerns, claiming that smart mining operations do not rely on conventional energy but are looking for cheap and abundant energy.
ETHW Price Predictions:
The price of ETHW rose to $60 at its launch in mid-September, but like many other cryptocurrencies, it has since fallen in price.
Read:The story of a crypto investor losing 80,000 dollars of Ethereum in two minutes
ETHW is currently trading at $7.18 after a 1.2% drop on the day, according to coinmarketcap.
The cryptocurrency ETHW has already lost 87% of its all-time high last month as the initial hype wanes and its activity deteriorates.
Ethereum Classic is down a similar amount from its peak, with ETC currently trading at around $24.
Given those low prices and rate of network expansion, ETHW could be one of the cryptocurrencies to watch when the crypto spring finally arrives.
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