Proof of What? ETHPoW Slams Launch

After the mainnet ETHPoW debuted, users weren’t able to access the network as a result of ETHPoW choosing the wrong chain ID.
Most of the tokens on ETHPoW are going to go to zero says Sunny Aggarwal, the co-founder of the osmosis labs.

Ethereum successfully executed the highly anticipated merge event ushering in the Proof-of-Stake system, the most awaited event in the Ethereum blockchain. The occasion was followed by a sudden turn of events, as users that chose to remain with the forked version ETHPoW had difficulties accessing the network.

Some miners were upset with the transition from PoW to PoS and were planning to continue mining the Ethereum post-merge. The Merge is not only making the network more secure and eco-friendly but also making ETH better money and a better store of value. so why would one still use the PoW mechanism?

ETHPoW had chosen a chain ID that was already in use. The chain ID is a chain property of the chain managed by the node. The chain is used for replay protection of transactions made across the blockchain.

The chain ID designated by ETHPoW was already in use by a Bitcoin cash Testnet.ETHPoW is the Ethereum blockchain powered by Proof-of-Work. ETHPoW token will likely still have some element of intrinsic value.

Chandler Guo a prominent Chinese crypto miner leads the ETHPoW. He confirmed that ETHPoW would be changing its chain ID to avoid any similar future events. It remains unclear why ETHPoW used the chain ID of an existing Bitcoin cash account.

ETHPoW already had the Chain IDs top on the minds of ETHPoW leaders. If ETHPoW failed to change its network chain IDs from that of the Ethereum mainnet user were to fall victim to replay attacks.

https://twitter.com/BennettTomlin/status/1570420361510154243

Replay attacks are an exploit that occurs when two forked cryptocurrencies allow transactions to be valid across both chains. happens when bad actors sneak up on a secure network connection and intercept it In this case, the scammers could replicate a transaction from the ETHPoW network, that is if both networks possessed the same chain ID.

The chain ID for ethw is 10001, which we will publish on our Twitter account. The code you mentioned in the above comments has to keep because chainID 1 is needed to validate chain data for blocks before the merge, and all chain data after the merge will be chainID 10001.

Ethereum team states

Significant implications are expected to happen for both individual investors and institutional investors. Events took a wrong turn and the unexpected happens.

Moving from the Proof-of-Work to the proof-of-stake mechanism has always been a goal of the Ethereum community. Should such challenges have been expected? Well, Ethereums energy usage is down by 99.99% this was after the merge. Ethereum was expected to yield 7%-14% on its first day. Ether issuance dropped more than 87% as well.