The Ethereum Merge may be eco-friendly, but is it miner-friendly

The much talked about Ethereum [ETH] Union is around the corner and things seem to be heating up in the mining community.

The major altcoin has adopted a more environmentally friendly Proof-of-Stake (PoS) consensus mechanism. This has put the miners in a difficult situation as they will be kicked out of business after the merger.

While some miners are looking forward to a hard fork, others choose to switch to other networks.

What is happening?

Recently, one of the largest Ethereum mining pools, Ethermine made a major announcement. He said the mining pool will switch to withdrawal-only mode once the Proof-of-Work (PoW) mining phase is complete. This means that miners would have to switch to a different currency to carry out their mining operations.

Their blog mentioned,

“All servers in the Ethermine layer will be closed and you will no longer be able to connect your miner to the Ethermine Ethereum pool. To receive a final unpaid balance payment, a manual payment can be activated on your individual Dashboard page. “

However, Etheremine advised miners to join its other high-performance mining pools for more tokens. These include ETC, RVN, ERGO and BEAM.

Lack of support for ETH PoW

On the one hand, the ETH PoW community is receiving support from multiple exchanges, such as Poloniex Exchange, which has already listed two potential hard fork tokens on its platform.

Furthermore, mining pools such as Ethermine have decided not to offer any dedicated support for such tokens. However, the Ethereum PoW community is continuing its efforts as it has released the first batch of contracts to block.

Which way to go?

As suggested by Ethermine, several miners have entered the Ethereum Classic network as its total hash rate has increased considerably in the past few months.

According to the 2miners chart, ETC’s hash rate gained upward momentum in July. And it has since followed an upward trajectory. Hence, indicating an influx of new miners into the community.

Source: 2miner

The surge in the price of ETC was a good signal for miners to enter the net, as they will be able to generate more profits.

Aside from ETC, a slight increase in ERGO’s hash rate was also recorded a few days ago which reached 15.24 TH / s for a while, further confirming the fact that miners are shifting base from Ethereum.

However, the Ethereum PoW community doesn’t think switching to ETC would be a viable option for them.

In a recent open letter written by the ETHW community, they mentioned that ETC only has 27 TH / s of computing power compared to ETH’s 996 TH / s.

As a result, they fear that the ETC network will not be able to accommodate the full processing capacity of the ETH network.

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