EthereumPoW
ETHW
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
EthereumPoW (ETHW) is the proof-of-work fork of Ethereum established during the September 2022 Merge. The project suffers from severe structural and operational weaknesses across all dimensions. Active development is virtually dormant (Score: 1.0/10), evidenced by stalled GitHub activity, fragmented repositories, and a lack of protocol upgrades. Community engagement is minimal with very weak social activity (Score: 1.5/10). Tokenomics are structurally inflationary without an EIP-1559 burn or maximum supply cap, compounded by weak organic demand (Score: 3.0/10). In terms of market adoption and use case, ETHW faces stiff competition from Ethereum and Ethereum Classic alongside declining liquidity and lack of dApp ecosystem activity (Score: 3.0/10). Governance is effectively non-functional after the ETHW Core team dissolved in December 2023 without instituting a verifiable on-chain governance structure (Score: 2.0/10). Finally, security remains weak given the absence of formal audits, no bug bounty program, and historical bridge replay issues (Score: 3.5/10). The overall score is calculated as the weighted average of all six sections.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About EthereumPoW (ETHW)
EthereumPoW (ETHW) is a proof-of-work fork of the Ethereum blockchain that split during Ethereum's transition to proof-of-stake (the Merge) in September 2022. Spearheaded by community miners, the network was established to maintain the pre-Merge Ethash consensus mechanism for cryptocurrency miners. The initial supply was distributed via a 1:1 snapshot to existing Ethereum holders at the time of the fork, starting with roughly 107.82 million tokens without insider vesting or pre-mines.
Technically, the network operates as an independent Layer 1 proof-of-work blockchain. To maintain mining incentives, the EthereumPoW chain disabled the difficulty bomb and redirected EIP-1559 base transaction fees to miners instead of burning them, making the token supply structurally inflationary with no maximum supply cap. However, the network has struggled to sustain ecosystem traction, exhibiting low on-chain transaction activity, thin trading volume, and negligible decentralized application deployment relative to competing networks like Ethereum and Ethereum Classic.
The project has experienced significant structural, security, and market setbacks. Shortly after launch in September 2022, an Omni bridge deployment on the chain suffered a message-replay attack that resulted in the loss of roughly 200 ETHW due to unverified chain IDs. Following financial difficulties and an unsuccessful request for $200,000 in operational funding, the ETHW Core development team announced its dissolution on December 19, 2023, passing temporary server administration to OneDAO without implementing an on-chain governance structure. Consequently, protocol development has become dormant, and the asset has experienced exchange delistings alongside an unrecovered price crash of more than 50% from its post-fork levels.