EthereumPoW ranks #110 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #716: 606 of the 715 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 720 non-native assets CoinSpectrum lists above it by market cap, about 62% are tokens, 29% are claims on other assets and 9% are memecoins.
| CoinSpectrum Grade | B · 68/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #110 |
| Rank counting claims | #716 |
| Market capitalisation | $27M |
| Price | $0.2506 |
| Circulating supply | 107,818,717 ETHW |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Work |
| Consensus mechanism | Ethash (EVM PoW fork) |
| Own hashrate | 2.72 TH/s |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
B — 68 out of 100, provisional (from 18 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 61 to 71 (C to B).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 10 | group average |
| Consensus: leader ladder | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 6 | group average, 11 of 13 measured |
| Sound Money Qualities (6 checks) | 5.8 | 3.5 of 6 points source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 4.6 | no fixed maximum; 108 million in circulation: supply scale 9.1, cap 0 |
| Durability: five years or more with no halt, freeze or reversal | ✓ | 11 full years since genesis, no halt, freeze or reversal in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | ✓ | no authority can freeze, blacklist or set apart a coin |
| Divisibility: the smallest unit worth a cent or less | ✓ | 18 decimal places, the smallest unit worth $2.5e-19 |
| Portability: fees of a cent or less and capacity for real demand | ✗ | typical fee $0.0003; about 108 transactions a second (4.8 on the throughput scale; 5 is the busiest networks' median demand) |
| Verifiability: open-source nodes and checking without a trusted server | ✗ | node software open source; no light clients or pruned nodes |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Any secp256k1 key can hold and send ETHW; the chain's account and transfer rules carry no identity check. |
| UTXO ledger: a new key for each payment, no account linking every coin | ✗ | |
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | go-ethereum fork with standard devp2p gossip; no Dandelion or built-in Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Public EVM ledger. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Accounts are public. |
| Scalability (fees, throughput, block time, block space, features) | 5.8 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.0003 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 4.8 | about 108 simple transactions a second |
| Block time (10 minutes 10, less either side) | 4 | a block every 13 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 1.88 MB limit (converted from its gas, compute, mass or count limit), 86.5 MB per 10 minutes |
| Features (3 checks) | 0 | 0 of 3 passed |
| Payments safe to accept within seconds | ✗ | ~13 s Ethash blocks with probabilistic confirmation. |
| Pruned nodes: a full node can validate and drop old history | ✗ | The go-ethereum 1.10.23 base prunes state only and keeps every block. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | PoW chain without a deployed light-client server network or sync committee; wallets rely on RPC providers. |
| Security (miner pay and 7 checks) | 5.3 | 5.3 of 9 points source |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 1.3 | about $3,333 a day |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✓ | |
| Largest pool or validator under 50% | ✓ | 41.7% |
| Largest three under 75% | ✗ | 87.5% |
| More than one maintained client | ✗ | 0 |
| Node software is open source | ✓ | The EthereumPoW team (led by Chandler Guo) published the only client, ethereumpow/go-ethereum (LGPL-3.0), with no release since Sep 2022. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 9,425 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 7.8 | 7 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 2 | ERC-20 contracts on its EVM (inherited from Ethereum at the September 2022 fork), open to any account. |
| Smart contracts: a general-purpose contract system | 2 | EVM inherited from Ethereum at the September 2022 proof-of-work fork (go-ethereum fork client). |
| Multisig and time locks | ✓ | Multisig and time-lock contracts on its EVM. |
| Atomic swaps with other chains | ✓ | Solidity HTLCs can be deployed on its EVM. |
| An exchange built into the protocol | ✗ | No exchange in the protocol. |
| Cross-chain messaging the chain verifies itself | ✗ | No protocol-level cross-chain messaging. |
| Non-fungible tokens | ✓ | ERC-721 contracts run by its EVM. |
| Decentralisation | 6.6 | section average, 6 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: No freeze or clawback power; no halts on record. source |
| No central team (Source) | 0 | A central team directs it: The EthereumPoW team (led by Chandler Guo) published the only client, ethereumpow/go-ethereum (LGPL-3.0), with no release since Sep 2022. source |
| Who can mint (Source) | 10 | Proof of work: 10 of 10 on the ladder of who produces blocks |
| Nodes (Source) | — | Not yet counted |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 4.9 | 51.4% of today's supply allocated at launch to founders, a company, a foundation or investors. ETHW copied every ETH balance at the Merge fork (block 15,537,394, ETH supply about 120.52M), so Ethereum's 72.0M genesis allocation (2014 sale plus early-contributor and Foundation pools) exists on ETHW too. Current supply estimated at about 140.1M: 120.52M at fork plus 2 ETHW per block for 9,779,933 blocks to height 25,317,327 (ETHW public RPC, 2026-10-23). 72.0M / 140.1M = 51.4%. source |
| Fundraising | 4.9 | Sold by its issuer or insiders: 51.4% of supply was theirs to sell, 42.9% sold so far. Inherited from Ethereum: about 60.1M ETH sold in the open 2014 ether sale (about 31,500 BTC). ETHW's own launch (Sept 2022, led by Chandler Guo's team) had no premine, sale or venture round. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. The 2-ETHW block reward goes to miners. ETHW Core pays the EIP-1559 base fee to a miner and community multisig instead of burning it, but that is fee revenue, not issuance. source |
| Supply & Demand | 7.8 | group average |
| Supply & Demand (Source) | 6.5 | average of 6 measures |
| Exchanges (10 or more: 10) | 8 | 8 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 4.6 | $6,317,231 traded in 24 hours; #450 by volume on the exchanges the site reads (scored on the median day of the last 30, $2,012,584) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 9.2 | 7.2% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 7.2 | $38,217 within 2% of the price on 4 exchanges, 0.14% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 3.6 | $27M, 3.6 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 6.5 | futures, options and margin positions 13% of its market cap |
| Supply (smaller is better) | 9.1 | no fixed maximum; 108 million in circulation |
| Record | 6.7 | group average |
| Record (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
| Age (years since genesis) (Source) | 10 | 11 full years since genesis. Split from Ethereum at the move to proof of stake (block 15,537,394, 15 September 2022), keeping the ledger: its history runs from Ethereum's genesis block of 30 July 2015. |
| Development (work, improvements, unfixed issues) | 0 | 0 positive, 5 negative source |
| Negative | ||
| Steady work, 0 of 6 | ✗ | 0 commits in 0 of the last 12 months (github.com/ethereumpow/go-ethereum); ethereumpow/go-ethereum last release v1.10.23, 2022-09-15; no release in over three years, though the chain still produces blocks (13.1 s average, Oct 2026). |
| Unfixed vulnerability, disclosed 2023-09-06, −1 | ✗ | go-ethereum GHSA-ppjg-v974-84cm (CVE-2023-40591, High) lets a flood of p2p pings spawn unbounded goroutines until the node runs out of memory; ETHW's latest client v1.10.23.1 (Sep 2022, geth 1.10.23 base) still answers pings in a new goroutine (fixed in 1.12.1). |
| Unfixed vulnerability, disclosed 2024-05-06, −1 | ✗ | go-ethereum GHSA-4xc9-8hmq-j652 (CVE-2024-32972, High) lets a GetBlockHeaders request with count 0 make the node load every header back to genesis; ETHW's latest client v1.10.23.1 (Sep 2022, geth 1.10.23 base) lacks the 1.13.15 cap. |
| Unfixed vulnerability, disclosed 2026-01-13, −1 | ✗ | go-ethereum GHSA-mr7q-c9w9-wh4h (CVE-2026-22862, High) lets a crafted p2p message crash the node with a too-short ECIES ciphertext; ETHW's latest client v1.10.23.1 (Sep 2022, geth 1.10.23 base) lacks the 1.16.8 length check. |
| Unfixed vulnerability, disclosed 2026-02-17, −1 | ✗ | go-ethereum GHSA-2gjw-fg97-vg3r (CVE-2026-26314, High) lets a crafted p2p message crash the node through unchecked secp256k1 point coordinates; ETHW's latest client v1.10.23.1 (Sep 2022, geth 1.10.23 base) lacks the 1.16.9 coordinate check. |
Twenty criteria, weighted equally. The Cryptocurrency Standards have six sections: sound money qualities (six checks: scarcity, durability, fungibility, divisibility, portability, verifiability), privacy (five checks), scalability (four measures and three features), security (miner pay and seven checks), programmability (token issuance, smart contracts and five checks) and decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share). Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
107,818,717 ETHW are in circulation, against no fixed cap — issuance has no defined end.
| Premine (allocated at launch) | 51.4% of today's supply |
|---|---|
| Sold by the issuer or insiders | 42.9% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | Public sale |
ETHW copied every ETH balance at the Merge fork (block 15,537,394, ETH supply about 120.52M), so Ethereum's 72.0M genesis allocation (2014 sale plus early-contributor and Foundation pools) exists on ETHW too. Current supply estimated at about 140.1M: 120.52M at fork plus 2 ETHW per block for 9,779,933 blocks to height 25,317,327 (ETHW public RPC, 2026-10-23). 72.0M / 140.1M = 51.4%.
Inherited from Ethereum: about 60.1M ETH sold in the open 2014 ether sale (about 31,500 BTC). ETHW's own launch (Sept 2022, led by Chandler Guo's team) had no premine, sale or venture round.
The 2-ETHW block reward goes to miners. ETHW Core pays the EIP-1559 base fee to a miner and community multisig instead of burning it, but that is fee revenue, not issuance.
CoinGecko and CoinDesk show 107.82M ETHW, which is below the 120.5M ETH copied at the fork and cannot be right. The 140.1M used here is computed from block height and the fixed 2-ETHW reward, ignoring uncle rewards. soldPct is the inherited ETH crowdsale share. Whether a forked copy of a premine should count is a method choice for the site.
Sources: github.com · medium.com · mainnet.ethereumpow.org · ultrasound.money · blog.ethereum.org · coindesk.com. Researched 2026-10-24, medium confidence.
EthereumPoW is secured by 2.72 TH/s of its own work. Hashrate does not compare across algorithms — a SHA-256 hash and a Scrypt hash cost different amounts to produce.
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
EthereumPoW is #110 among cryptocurrencies and #716 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 606 places between EthereumPoW's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).