Ethereum Hard Fork “1 Free EtherZero (ETZ)
UPDATE (20th of January)
EtherZero is the upcoming Hard Fork for Ethereum. This fork provides free coins on a 1:1 basis for everyone, that holds ETH in particular wallets. Thus the forked coin is named EtherZero. The ticker will be ETZ. Firstly, the hard fork has been canceled due to missing support in the community, now the date is up again and EtherZero finally released a white paper on their website. So you have guidance to which you can decide if it is for you or not.
EtherZero has also the same consensus mechanism like Ethereum, Proof-of-Work. The block interval shall be decreased from 15 to 10 seconds with ETZ, using a block size of 2 MB. Hence, Mining will be GPU-based. This is to make use of the same mining algorithm like Ethereum, ETHash. The total supply will be 116 million (Ethereum, in comparison, has a total supply of 97 million).
The main advantages of the hard fork shall be:
- No TX fee
- Instant payments
- Master Node support and high scalability
When will the Hard Fork happen?
Update: The hard fork happened in the evening on the 19th of January around 8 PM GMT @ block number 4.936.270. If you wish to see the current block number, it can be found here: https://ethstats.net/.
How to get the free ETZ Coin
Every Ethereum – token will create an EtherZero – token. You just have to keep Ethereum in one of the following wallets:
The following exchanges have been approached for a listing (Source: EtherZero (ETZ), none of these exchanges confirmed a listing yet):
Is EtherZero a Scam?
At this time, we can’t say if EtherZero (ETZ) is a scam or not. We find the Team itself seems not united and the site has Who is protection. To which is uncommon for a project of this size. Metamask warns of phishing if you visit the website. However, if they could keep up with the promises of the white paper, EtherZero would have very high potential. If something seems to be too good to be true, it probably is.
The scam rumors are maybe FUD, please read this post.
Update 2: MyEtherWallet tweeted:
⚠ After looking into EtherZero, we have no clarity as to, Firstly, what the code is. Secondly, who created it. Correct licensing here = unknown. Coupled w/ multiple .exe’s that are malicious, we recommend NOT INSTALLING NOR USING ANYTHING RELATED TO ETHERZERO AS IT PUTS YOUR SYSTEM & ETH AT RISK— MyEtherWallet.com (@myetherwallet) 20th of January 2018
EtherZero will be a legend, that is sure: Whether as the better Ethereum, the biggest airdrop scam ever, or as the hard fork with the worst communication cryptosphere has seen yet. Let’s sit it out. Please stay safe. There are so many fake websites out there right now, do not submit your private key/seed anywhere – just don’t do it.
How to find the EtherZero Coin?
There was one doubtable option to submit your private key/seed on the EtherZero website, which has a MyEtherWallet-alike wallet. Furthermore, this can be considered very risky. Especially if you do this from your main wallet. If you don’t need the wallet further and moved all funds out before, you could give it a try – anyhow, we would never recommend giving the private key away or submitting it on any site. On the 22nd of January at 8 PM GMT the custom node shall be released plus the information on how to add this custom node for ETZ in your MEW. Check their Twitter. Be careful, there are many fake sites like eterzero.org online that mimic the original site. If you submit your private key there, nothing will be left in your wallet.
ETZ Exchange in conclusion…
Until now, you can trade ETZ on YoBit . Not an ideal situation but more exchanges. They will likely list it in the future as it gains in use/popularity. Wild times for cryptocurrency trading! I hope you enjoyed the article! So, until next time keep on the HODL at full throddle!
Updated 4/22/2021 – Things have changed a bit with the market moving away from the ICO/STOs and forks to DEFI projects. Binance is running hot with the PancakeSwap and things are moving fast. ETZ is just meh and has flatlined for some time. Stay tuned to see if they make the shift in the future to the DEFI space in some way!