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From Terraria Wiki
The Ebonwood Hammer is a low-tier Hammer. Stat-wise, it is superior to the Copper and Tin Hammers, but not as potent as the Lead and Iron Hammers. Because the Corruption is usually not far from the spawn, an Ebonwood Hammer makes a good starting hammer.
Its Crimson counterpart, the Shadewood Hammer, is identical in everything but crafting material.
Its best Modifier is Light for harvesting purposes, or Legendary for combat purposes.