Pwnhammer

The Pwnhammer is the second most powerful hammer in the game, being one step below the Hamdrax. The Pwnhammer and the Hamdrax are the only hammers that can destroy a Demon Altar.

350px

It's shown as a gigantic golden/silver hammer, that looks particularly holy, which may explain its unique ability of being able to destroy Demon Altars. Upon destroying a Demon Altar with the use of this hammer, it blesses the world with one mineral out of a list of three, initially new minerals; Cobalt Ore, Mythril Ore, or Adamantite Ore. The first Altar will bless the world with Cobalt Ore, the second with Mythril Ore and the third with Adamantite Ore. When the fourth is destroyed the cycle starts over.

It is a 100% drop from the Wall of Flesh, however, similar to all weapons as of the 1.1 update, each weapon may vary with different bonuses or negative effects.