The industry is delighted about the Ethereum network's successful transition from a Proof of Work (PoW) model to a Proof of Stake (PoS) one.
Many investors have been prepping for a new token that is projected to be generated through that same hard-fork split, which would also welcome a new phase for the Ethereum ecosystem.
Given that several of the biggest markets in the sector have now listed an IOU for the prospective coin that bears the ticker symbol “ETHW,” the probability of its creation is substantial. The five exchanges that have the coin registered as of this writing are FTX, MEXC Global, Bybit, Gate.io, and FTX.US, citing information from Coingecko.
The going rate for the ETHW token at the moment on FTX, MEXC Global, and FTX.US is $18. Despite selling at $40 on Gate.io, the token is only $22 on Bybit.
Uncertainty exists around the number of trading platforms that will eventually support the new Ethereum coin that adheres to the Proof of Work (PoW) consensus process. IOUs trading on these sites had a very high degree of confidence score from Coingecko statistics, nonetheless.
For hard forks or the production of new tokens, Ethereum is not a novel system. Among the most important blockchain systems that emerged from the network's hard fork in 2016 is the Ethereum Classic protocol. Some prominent Ethereum ecosystem players have pledged to support the new protocol in light of Ethereum Classic's resiliency and current rate of success.
Energy efficiency is a major topic of discussion when it comes to the PoS version of the protocol. Supporters also argue that Scalability makes it more resilient against attacks, and that a validation model that confirms transactions further increases this security.
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