What is Ethereum Fair (ETHF/ETF), and How to Store Them? - ELLIPAL

What is Ethereum Fair (ETHF/ETF), and How to Store Them?

EthereumFair ETHF is a new Ethereum hard fork currency that was created to preserve Ethereum's Proof-of-work, blockchain. On the other hand, the main Ethereum blockchain has switched to Proof-of-stake (PoS) algorithm to increase efficiency and be more environmentally friendly. As the main Ethereum now becomes a PoS blockchain, miners of ETH have become obsolete, so the ETHF was born. 

EthereumFair ETHF hopes to preserve the Proof-of-Work consensus algorithm and build a new home for miners who relies on the old PoW rules. EthereumFair ETHF also maintains Ethereum projects that seek to build on a PoW blockchain.

What is EthereumFair (ETHF/ETF)?

ETF was founded in 2020 and brought became live during the 3rd quarter of 2022. EthereumFair has drawn a good amount of attention from miners in the crypto space once ETH completed its merge into a PoS blockchain. 

EthereumFair is turning into a success after its fork away from the original Ethereum chain. It is upholding an independent ecosystem by providing a platform for developers to build on the ETF's PoW blockchain. 

Since its launch, the EthereumFair blockchain has reportedly processed over 1.7 billion transactions and handled over 50 million smart contract creations. Not to mention, 200 million wallets have also been created according to ETF's official page. 

ETF Mining

EthereumFair plans to expand its coin supply through miners’ rewards, similar to what Ethereum did originally. Miners will receive ETHF for validating a block on the ETF's network. The team also lowered the mining difficulty to increase miners’ chances of earning rewards and profiting from running an ETHF node. Major mining pools that support ETHF mining include f2pool, Antpool, Hiveon, and btc.com.

EthereumFair's Ecosystem 

EthereumFair is constantly growing its ecosystem, as well as partnering with other crypto projects to speed up the progress of its PoW smart contract and EVM facility. First of all, acceptance from exchanges has been good. Several exchanges such as Huobi, Poloniex, Gate, and others have already listed ETHF and allowed trading. Decentralize exchange Uniswap has also added an ETHF swap. 

New decentralized applications (DAPPs) are already building their solutions on the ETHF chain. MemorySwap is one of the earliest decentralized exchanges to launch on the ETHF chain. Alien exchange and MetaPath have also launched.

A GameFi project like RichMoon has also launched on the ETHF chain. Richmoon game describes itself as a Web3 small game platform. Musse NFT marketplace has also announced support for ETHF NFTs.

The progress has shown that the EthereumFair chain’s growth as an inclusive platform for decentralized solutions is coming along well. Further growth is expected as the platform continues to welcome new projects and older EVM projects that wish to build on the PoW chain. 

Where to Store ETHF?

As we have discussed above, ETHF can now be traded and bought on several exchanges and DEXes. DAPPs have also been building on the ETHF chain meaning there will be investors interested in buying ETHF. 

The best place to store ETHF is inside a wallet where you will have custody of your coins. Metamask has announced support for ETHF which makes it a very good and secure choice to store your ETHF.

However, for the best security, it is recommended to store ETHF in a cold wallet. A well-known wallet that is supporting ETHF now is the ELLIPAL cold wallet. The ELLIPAL is an air-gapped cold wallet meaning your ETHF will be safe from all kinds of online hacking. 


More Articles:

1. Ethereum Merge - Frequently Asked Questions

2. POW Ethereum (ETHW) Wallet

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