With the end of Ethereum mining, miners are turning to other cryptocurrencies.

F2pool has announced that it will stop mining Ethereum (ETH) after the Network Meltdown occurs. Other mining pools are also taking steps to prepare for the change.

The F2pool mining pool has provided an update on when it will end the Ethereum mining process. He announced on September 7 that the pool will work until the Merge occurs, which is expected between September 10 and 20.

The following is announced on the official blog of the Ethereum Foundation:

“The Merger is a two-step process. The first step is an update to the network, Bellatrix, at the consensus layer triggered by an epoch height. This is followed by the transition of the execution layer from Proof-of-Work to Proof-of-Stake, Paris, triggered by a specific total difficulty threshold called Total Terminal Difficulty (TTD).”

Ethereum miners in F2pool will receive their ETH balance after the Merger ends.

F2pool acknowledged the arrival of Proof-of-Stake on Ethereum but also pointed out the important role that miners have played over the years. Faced with the imminent transition to PoS, the mining pool noted the following:

“Whether it supports the Ether fork or not is no longer important. We will let the mining community decide. However, we recognize that the ETH PoW era is coming to an end, and let us move on to the new PoS Era.”

The Merge is one of the biggest changes Ethereum has ever experienced and is highly anticipated among many crypto experts and enthusiasts. As such, many companies are preparing for the transition.

Following the Merger, Ethereum will move from a Proof-of-Work consensus mechanism to Proof-of-Stake, after which miners will be replaced by ETH stakers who will perform network validation.

Mining Companies Make Decisions about the Future

Meanwhile, other mining pools are also taking action in the lead-up to the Merger. However, the decisions they have to make are difficult as they must reorganize resources.

For example, Hive Blockchain Technologies is looking to optimize 6.5 Terahashes of ETH mining capacity. Instead, you can look to mine ETC and ETHPoW.

In the meantime, Hut8 will look to focus on machine learning, Artificial Intelligence, and other service delivery.

Cryptocurrency platforms are also taking precautions for the Merger. Aave, for example, has capped ETH lending to avoid trouble for liquidators.

Ethereum Miners Are Considering Other Crypto Assets

The move from Ethereum to PoS means that miners have to make decisions about where to spend their resources. It appears that most miners will turn to mine other crypto assets, which in turn will increase the difficulty of those coins and reduce profitability.

As for the assets they could mine, Bitcoin, Ethereum Classic, Litecoin, and Bitcoin Cash seem like the most likely options. However, Monero, Zcash, and Ravencoin are also available options.

In addition to being more environmentally sustainable than the energy-costing Proof-of-Work (PoW) consensus mechanism, crypto investors expect to see other positive returns from the benefits of transitioning to PoS.

However, fully upgrading a Blockchain protocol, amid continued heavy usage, with an estimated 1.3 million daily transactions, across more than 3,400 active distributed applications, remains a very risky prospect.

By Audy Castaneda

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