HomePress CoverageEthereum 'Spin-Off' Surges 22% Despite Bitcoin and ETH Losing Some Mojo -...

Ethereum ‘Spin-Off’ Surges 22% Despite Bitcoin and ETH Losing Some Mojo -…

Ethereum proof of work ETHW/USD is up 22%, making it the best-performing on CoinMarketCap’s list of daily winners.

What happened: At the time of writingether ETH/USD was trading at $1,272, down 1.15%. Apex Crypto Bitcoin BTC/USD traded below the USD 17,000 level, down 1.27% in the last 24 hours.

ETHW is an asset from which was born Ethereum’s merger in September. It should be noted that ETH has transitioned from proof-of-work to proof-of-stake, making the second largest cryptocurrency far more energy efficient by eliminating the need for miners and replacing them with validators that use crypto and use it inexpensively energy-intensive machines to protect the network.

See more: Best Crypto Apps

But before the merge, Chinese miners Chandler Guo started a campaign against the move – the result was an entirely new cryptocurrency via a hard fork, still using Proof of Work mining.

The ETHW Foundation said in a tweet that 2.5 months after the fork, over 86 million active addresses contain the forked crypto.

Binance said in September that was the case let go an ETHW mining pool for its users, noting that users would not be charged if they participated until October 29th.

Continue reading: Bitcoin, Ethereum, Dogecoin screech to a halt: Analyst sees ‘healthy consolidation’ amid mixed economic data, Tether worries



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