To urge the team to clarify how the forked chain will be set up, a member of the Coinbase team had to leave a comment on the ETHPoW GitHub source.
The network’s ChainID has not yet been modified in the repository to one that varies from Ethereum Mainnet.
The ChainID 10002 is utilized by the ETHPoW Testnet and is not used by any other chain. The ChainID of the Ethereum Mainnet is 1, and the PoW chain has access to several more numbers.
The team working on Coinbase wasn’t the only one attempting to fix the problem. The developers are being asked to update the ChainID in four additional pull requests.
On September 9, the ETHPoW team replied to Coinbase’s pull request by saying:
“The chainid 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.”
Many people in the Ethereum community will feel more at ease after hearing this news because it appears that there was no nefarious intent behind the failure to update the ChainID.
ETHPoW and its significance
Several times over the past few weeks, a proof-of-work hard fork of Ethereum post-merge has been postulated. The exchange will support a hard fork of Ethereum by contributing up to $1,000,000 $ETHPoW to the establishment of a developer community on the new chain, according to a statement from Poloniex founder Justin Sun.
However, there are many misconceptions regarding The Merge and the switch to proof-of-stake. During The Merge, a new consensus layer dubbed the Beacon Chain will be merged into the current network while the primary Ethereum chain, known as Mainnet, will continue to function.
Mining on the Mainnet will become useless due to the difficulty bomb because it would be unable to find new blocks to mine. However, it does not follow that miners must stop working. The improved proof-of-stake version of Ethereum can be mined, but no rewards or major block generation contributions will be made by the miners.
Miners will have to either switch to mining Ethereum Classic, which has a considerably smaller ecosystem and lacks any notable dApps seen on Ethereum Mainnet, or make a hard fork of the existing Mainnet without the Beacon chain merging if they want a proof-of-work version of Ethereum.
Anytime could see the occurrence of a fresh hard fork that keeps the proof-of-work consensus algorithm. Ethereum may always be forked from GitHub by anyone. There has been some misunderstanding about The Merge, with some individuals thinking that Ethereum’s proof-of-work version will survive and that the proof-of-stake version will undergo a fork.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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