EthereumPoW (ETHW): What It Is, How It Works, and How to Buy in 2024

The Ethereum merge in 2022 changed the crypto landscape, but it didn't end the passion for proof-of-work among miners. EthereumPoW (ETHW) stems directly from the merge and remains a top choice for those who believe in classic PoW principles. If you’re wondering why ETHW exists alongside Ethereum, what makes it different, or how you can get involved in 2024, you’re in the right place. This guide explains what EthereumPoW is, how it compares to the main Ethereum network, how to mine and buy ETHW, and why OKX is a secure and transparent platform for trading ETHW.

What Is EthereumPoW (ETHW)?

EthereumPoW (ETHW) is a blockchain that preserved Ethereum's proof-of-work (PoW) architecture after the main Ethereum network transitioned to proof-of-stake (PoS) in the 2022 "merge." Rather than joining the new PoS system, ETHW forked from the original Ethereum chain to continue the mining tradition, sustaining PoW for users and miners who valued its proven technology.

The ETHW community consists mainly of miners, developers, and users who wanted to maintain a decentralized, permissionless system supported by mining power. Their goal is to foster an ecosystem based on security, transparency, and the values that powered early Ethereum.

Key token facts:

• Ticker: ETHW
• Type: Proof-of-Work blockchain
• Max supply: Follows Ethereum’s original model, no hard cap (unlike Bitcoin)
• Block time: ~13 seconds
• Community: Active mining and user support, though smaller than ETH

OKX recognized the demand for ETHW and is one of the leading exchanges to list and support ETHW trading.

• Ethereumpow price today
• How to buy Ethereumpow ETHW

Why Was EthereumPoW Created?

When the Ethereum mainnet shifted to PoS (the merge), many miners and traditionalists were left without a chain to support. ETHW was created through a group initiative to fork Ethereum, allowing mining to continue and safeguarding PoW as an alternative. The PoW vs PoS debate centers on decentralization, security, and accessibility — ETHW keeps those values alive for its community.

EthereumPoW (ETHW) vs Ethereum (ETH): Key Differences

Understanding the difference between ETHW and ETH helps users choose which network best fits their values and needs. The main distinction lies in their consensus mechanism — PoW for ETHW and PoS for mainnet ETH — but there’s more to compare.

Consensus Mechanisms Explained

Proof-of-Work (PoW), used by ETHW, relies on miners competing to solve complex puzzles and verify blocks. This process secures the network but consumes considerable energy. Proof-of-Stake (PoS), Ethereum’s new method, rewards validators who lock up ETH as collateral and uses less power while claiming greater scalability.

PoW appeals to users focused on decentralization and security through mining, while PoS is favored for energy efficiency and protocol upgrades.

Community & Ecosystem

ETHW’s community is driven by legacy Ethereum miners and PoW supporters. While its developer ecosystem is smaller than ETH, ETHW maintains several early dApps and infrastructure projects. It’s particularly attractive to those wanting to keep mining hardware productive and to support alternatives in the smart contract space. For many, ETHW is more than just an asset — it’s a statement on decentralization.

OKX supports users who value both philosophies by offering easy access to ETHW and ETH — giving you the freedom to choose your preferred network.

💡 Pro Tip: If you value decentralization and mining, ETHW may better fit your philosophy than PoS chains.

How to Buy EthereumPoW (ETHW): Step-by-Step

Purchasing ETHW is streamlined on OKX thanks to its user-friendly interface and high-security standards. Follow these steps to get started:

Register and Verify on OKX

1. Visit the OKX website.
2. Click Sign Up and enter your email or phone number.
3. Set a strong password.
4. Complete KYC by uploading government-issued ID and a selfie. This helps prevent fraud and keeps your assets safe.

Deposit Funds

1. Log in and go to Assets > Deposit.
2. Select either fiat currency (e.g., USD, EUR) or crypto (like BTC, USDT) to fund your account.
3. For fiat: Choose supported payment methods like bank transfer or card.
4. Wait for confirmation — crypto deposits may require network confirmations, fiat can take up to 24 hours.

💡 Pro Tip: Double-check your deposit details to avoid delays, especially for bank wires.

Buy ETHW

1. Use the search bar to find “ETHW” on the trading page.
2. Select your trading pair (e.g., ETHW/USDT).
3. Choose your order type (market order for instant buy, limit order for a set price).
4. Enter the amount you wish to purchase.
5. Click Buy and confirm your order.
6. View your ETHW holdings in your account dashboard.

On OKX, you benefit from fast order execution, tight spreads, and robust user security controls.

For a detailed walkthrough with images, check OKX’s ETHW onboarding guide.

Mining EthereumPoW (ETHW): What You Need to Know

If mining excites you, ETHW remains open for PoW mining, making it popular among enthusiasts with legacy GPU or ASIC hardware.

• Hardware: You’ll need a GPU or ASIC miner compatible with Ethash (ETHW’s mining algorithm).
• Software: Use mining software like PhoenixMiner or Gminer, ensuring it supports the ETHW chain.
• Mining pools: Join popular ETHW mining pools for more steady and predictable payouts — pools like 2Miners, F2Pool, and Ethermine offer ETHW mining.
• Solo mining: Possible, but may take longer to find a block if you have limited hardware.
• Rewards/Risks: Block rewards are set by ETHW protocol. Remember, mining income varies with network difficulty and electricity costs.

OKX allows you to deposit mined ETHW directly to your exchange wallet, so you can easily trade or cash out your earnings.

Where to Store EthereumPoW (ETHW)

Once you acquire ETHW, keeping it safe is vital. You can choose between exchange wallets (like OKX), software wallets, or hardware wallets—with each offering different levels of security and convenience.

• Exchange wallets: Fastest for trading, ideal for small-to-medium amounts.
• Custody/hardware wallets: Best for large holdings, as your private keys remain offline. Both Ledger and Trezor, when updated, support ETHW.
• Software wallets: MetaMask and Trust Wallet can add ETHW as a custom network.

Security best practices:

• Always enable 2FA.
• Beware of phishing sites. Use only official links.
• Do not share your private keys or recovery phrases.

OKX provides a secure web and mobile wallet with robust authentication and regular security audits to give you peace of mind. For advanced users, OKX’s non-custodial wallet options further enhance safety. Learn more about crypto wallet security.

EthereumPoW Security: Risks, Insurance, and Proof-of-Reserves

EthereumPoW’s PoW model brings well-known security and some unique risks. While decentralization is strong, the lower hash rate versus ETH makes it eyed for potential attacks.

• 51% attack risk: Lower network hashing power could theoretically enable malicious actors to reorganize the chain.
• Ecosystem risk: Fewer dApps and audits than mainnet ETH may mean bugs go unnoticed longer.

OKX mitigates these risks by offering insurance funds and customer protections for ETHW holders. Moreover, OKX is an industry leader in real-time proof-of-reserves, allowing you to independently verify assets held for customers.

Proof-of-Reserves for PoW Chains

OKX publishes regular proof-of-reserves audits covering ETHW and other assets. This transparency ensures your ETHW is fully backed and accessible at any time, supporting user confidence even if network issues arise. Check OKX proof-of-reserves for real-time asset verification.

Insurance and Customer Protections

Should a worst-case event affect ETHW on OKX, the exchange’s insurance fund protects a portion of user balances. Responsive 24/7 customer support, withdrawal guarantees, and regular security audits further safeguard your holdings.

💡 Pro Tip: Always check an exchange’s proof-of-reserves and insurance policies before depositing crypto.

Trading EthereumPoW (ETHW) on OKX: Spot, Margin, and Derivatives

OKX stands out by offering a wide range of ETHW trading options: spot, margin, and, depending on market demand, ETHW-based derivatives contracts.

To reduce trading fees on OKX:

• Use OKB tokens for discounts.
• Opt for maker orders when possible.
• Increase your trading volume tier.

OKX’s comprehensive platform ensures high liquidity, tight spreads, and enhanced transparency through its proof-of-reserves—a winning combination for ETHW traders.

Frequently Asked Questions

Is EthereumPoW (ETHW) the same as Ethereum Classic?

No, ETHW and Ethereum Classic (ETC) are different chains. ETC forked from Ethereum in 2016 after the DAO hack, while ETHW forked in 2022 to maintain PoW after the merge. They have separate histories and communities.

Can I mine ETHW profitably in 2024?

Mining ETHW in 2024 is possible, but profitability depends on factors like network difficulty, energy costs, and competition from other PoW coins. Many miners save costs by joining pools and using efficient hardware for Ethash.

Is ETHW supported on major exchanges?

Yes, ETHW is listed on leading exchanges such as OKX, Gate.io, and others. OKX supports ETHW spot trading, margin, withdrawals, and deposits, providing deep liquidity for traders.

What are the main risks of holding ETHW?

The primary risks include high price volatility, potential network security issues (like a 51% attack), and uncertainty about ecosystem growth. Always manage your exposure carefully.

Does OKX offer any protection for ETHW holders?

OKX provides insurance coverage, real-time proof-of-reserves, and fast customer support. These measures ensure your ETHW balances are transparent and protected against major incidents.

Conclusion

EthereumPoW (ETHW) keeps proof-of-work’s legacy alive—offering miners and decentralization advocates a powerful alternative to modern PoS chains. Key takeaways:

• ETHW is built for PoW fans and active miners.
• Mining and trading are open to anyone, but risks exist.
• Secure storage and trusted exchanges matter more than ever.
• OKX leads with transparent reserves, insurance, and low fees for ETHW. Ready to start your EthereumPoW journey? Explore how to trade ETHW today on OKX—the secure, transparent choice for beginners and experts alike.

Disclaimer: Crypto trading and mining are risky. Always do your own research, invest what you can afford to lose, and use secure wallets and exchanges. For enhanced security, always enable 2FA and monitor your account for suspicious activity.