When PoW Meets ETH: A Carefully Designed Diversification Experiment
Between the initial supply of Ethereum and its current circulation, there is an adventure story comparable to the blockchain version of Indiana Jones. The mystery behind this difference lies in the Proof of Work (PoW) era that made graphics card manufacturers laugh uncontrollably.
Miner: The first distributor of ETH
Under the PoW mechanism, ETH is like a digital currency seed scattered around the world, with miners using computing power to cultivate and electricity to irrigate. This mechanism has created three wonders:
Decentralized Accelerator: When each new block is born, ETH automatically disperses into the pockets of miners worldwide like popcorn
Bitcoin style democracy: The wide distribution of early holders made the ETH community call itself the “United Nations of the digital world”
Smooth transition pre embedded pen: a broad coin holding foundation, laying the groundwork for future PoS upgrades
Legacy of PoS Era
When Ethereum completed its “energy revolution” (shifting from PoW to PoS), people suddenly discovered that the ETH mined by miners in those years had already scattered around the world like dandelion seeds. This early decentralization achieved:
A healthier holding structure: No ‘whale’ can easily stir up the market
Stronger community resilience: coin holders are more inclined to hold for the long term
A more natural consensus transition: PoS validators come from the original coin holding community
Conclusion: A Exquisite Ecological Design
Ethereum completed the “census” of digital currency using PoW, and completed the “democratization transformation” by upgrading from PoW to PoS. The design of this supply mechanism can be called the “rise of a great power” in the blockchain world – first widely accumulating grain, and then slowly claiming the throne.
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