Ethereum PoW Network Sees Complaints on Day 1 Amid Data Goof-Up

Users said they weren't able to access the blockchain's servers using the public information and attempts to link it to a crypto wallet failed.

AccessTimeIconSep 16, 2022 at 10:31 a.m. UTC
Updated May 11, 2023 at 6:41 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Ethereum PoW, the version of the Ethereum blockchain that continues to run on a proof-of-work (PoW) consensus mechanism, experienced a dismal first day as it ran into teething problems.

Some Twitter users complained they weren't able to access the network using the information provided by the Ethereum PoW Twitter channel, while some reported problems accessing the network’s web servers.

The blockchain was established as a fork of the Ethereum network, which switched to a proof-of-stake (PoS) consensus mechanism on Thursday in an event known as the Merge. The PoS network now continues as Ethereum.

CoinDesk wasn't able to access Ethereum PoW’s web servers using links provided. Multiple attempts by a reporter to add the network to a crypto wallet had failed as of Friday morning.

SmartBCH, a scaling tool for Bitcoin Cash, pointed out in a tweet that the network issues were likely the result of Ethereum PoW using the same Chain ID used by a SmartBCH testnet. Several confirmed the issue.

A Chain ID is a set of numbers used by the browser-based crypto wallet MetaMask to sign transactions for the network. An incorrect Chain ID causes transactions to fail because users aren't connected to the correct network, rendering a network unusable.

Meanwhile, the price of ETHW, the native token of Ethereum PoW, fell in the past 24 hours, likely because users received the new tokens and instantly sold them on the open market. The tokens are listed on several exchanges, including OKX.

The tokens traded at over $42 on Thursday before the Merge and fell as much as 78% to as low as $8.20 in early European hours Friday. Futures tracking ETHW traded at over $54 when they were issued in the first week of September.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.