Ethereum, the second-largest coin in the cryptocurrency market, is scheduled for a hard fork.
Ethereum coin, as everyone who invests in virtual currency knows, is scheduled to hard fork in September. Unlike the existing hard fork, this predicts a huge market change. What kind of content is this hard fork that people are interested in? In this article, we will find out what the hard fork of Ethereum is and write about its schedule.
Ethereum hard fork
This Ethereum hard fork is a transition from POW to POS. This is a change in mining method, which can cause great confusion for current Ethereum miners.
- What is POW? POW is a general coin mining method that performs calculations with a PC to mine a certain amount of coins.
- What is POS? POS is a form of paying coins like interest to coin holders.
Currently, many people are mining Ethereum in the coin market. They are cooperative in the POS transition. However, there are many claims that it will cause confusion with coins that imitate them. If Ethereum continues to drag on POW, it will eventually suffer damage from high-performance computers such as quantum computers, so this upgrade is giving strength. Also, as those who have used the Ethereum chain will agree, the fee is quite high and it is slow compared to other next-generation coins. So it seems necessary to improve it.
When Ethereum is hard forked, there will be a coin called ETHW. As Ethereum is converted to POS, the element that becomes POW falls off. You can airdrop ETHW if you hold it at the time of the hard fork snapshot on a coin exchange that supports ETHW. Many exchanges are currently reviewing this, and Binance is also actively reviewing it. If there is no problem, I think it will probably be supported.
What is the Ethereum hard fork schedule and support?
The Ethereum hard fork is expected around mid-September 15-16. At this point, it is expected that there will be investors who expect Ethereum to rise. I am in favor of investing in Ethereum. This is because, when Ethereum is converted to POS, the amount of mining decreases by almost one hundredth. Bitcoin’s halving is about 1/2 halved, while Ethereum’s is 1/100. This is a huge reduction in the amount of mining and is a factor that increases the value of Ethereum.
Exchanges that support the Ethereum hard fork haven’t announced much yet, but most large exchanges are expected to support it. This is a benefit for investors and a necessary part for most Ethereum holders. If there is an exchange announcing that it does not support it, we hope that you will be able to receive the ETHW airdrop by moving Ethereum right away.
