With the new Ethereumpow (ETHW) network launch, ethereum holders are eligible to receive a single ETHW for every ether they own. The following is a simple guide that shows ethereum holders how to access their ETHW tokens using a wallet like Metamask.
Accessing the ETHW Network via MetaMask’s Network Settings
16 days ago, Ethereum transitioned from a Proof-of-Work (PoW) blockchain to a Proof-of-Stake (PoS) network, and Ethereum miners chose to mine a few different coins, such as Ethereum Classic and Ravencoin. Some miners have converted to the new Ethereumpow (ETHW) network, and it has been more than two weeks since the blockchain was launched. At the time of writing, the hash rate dedicated to the ETHW network is 52.27 terahashes per second (TH/s).
Moreover, the ETHW token has been trading for prices between $10.96 to $12.16 per unit during the last 24 hours. The USD value of ETHW is up 20.6% during the last two weeks, and seven-day statistics indicate the token is up 49.1%. However, during the past 24 hours on October 1, 2022, ETHW has lost roughly 7% against the U.S. dollar. Because ETH owners are eligible for ETHW at a 1:1 rate, after the ETHW network went live, ether holders have been gaining access to their coins.
The following post is an easy way to access ETHW using MetaMask Wallet by simply updating the network. ETH owners can also take advantage of various methods such as importing their seeds into MetaMask or wallets that support the ETHW network. Some wallets, such as crypto.com’s DeFi wallet, have a toggle switch that checks the balance, and if you have placed ETH on crypto.com’s DeFi wallet, simply check the balance and ETHW tokens can be added.
To leverage the Metamask route, it’s assumed you already have ETH in a Metamask wallet throughout the rest of this guide, but if you don’t, it’s also possible to import your ETH wallet into the Metamask platform and access the funds from there.
Assuming you already have a Metamask wallet that holds Ethereum (ETH) prior to the merge or before September 15th, the next step is to access Metamask’s Settings section in the wallet. To access the settings simply click on the account icon and press “Settings”.
In Metamask’s “settings” section, on the left side of the screen another section called “network” will be visible, and there’s an icon of a plug right beside it. Press “network,” and the section will take you to an area that shows all the networks your wallet is connected to, and from here simply press “add network.” After pressing the “add network” button, Metamask will warn you about malicious networks as the platform states:
A malicious network provider can lie about the state of the blockchain and record your network activity. Only add custom networks that you trust.
Below the warning are the fields of entry that are needed to access the ETHW network. There are five fields to fill out, which include: “Network Name,” “New RPC URL,” “Chain ID,” “Currency Symbol,” and the “Block Explorer URL.” In order to connect to the ETHW chain simply leverage the RPC data written below.
- network name- ETHW-mainnet
- New RPC URL- https://mainnet.ethereumpow.org
- Chain ID- 10001
- currency symbol- ETHW
- block explorer url https://mainnet.ethwscan.com
After filling in all the fields, simply press “save” and connect to the ETHW network. When the wallet is connected to the network, it should now display a balance of ETHW, depending on how much ether was originally in the wallet. From here, the ETHW balance can be saved, transferred to a different wallet or address, or sent to an exchange to be sold.
If you are planning to sell new tokens, make sure the trading platform supports the ETHW chain. In addition to accessing the ETHW network via Metamask, hardware wallet company Ledger has published a blog post detailing how ETH owners can access their Ledger ETHW accounts through Metamask.
