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Is Ethereum losing support for PoW hard forks?

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ethereum

August 19, 2022 by

Aishwarya shashikumar

For many reasons, the Ethereum [ETH] network has been Topic of the crypto community. Merger is undoubtedly one of them, but there is also talk of the possibility of a hard fork. The merger would make miners irrelevant or important to the Ethereum network. Chinese cryptocurrency miner Chandler Guo has decided to defend these miners as it disrupts the livelihoods of many. After the merger, Guo was strongly attracted to the concept of a fork in the Ethereum network. While some continue to doubt it will happen, others are optimistic. However, the largest ETH mining pool disagreed with Guo’s proposal.

According to the largest Ethermine blog post, the PoW mining phase of the network is over. Ethereum mining pool. According to the website, “dedicated mining pools for any planned PoW forks” will not be available.

Poloniex, BitMEX and other platforms have approved the PoW hard fork. However, the vast majority of them avoid doing so. For those planning to adopt PoW chains, some of them have been promoting the use of Ethereum Classic (ETC).

Additionally, Etheremine recommends that its miners join the Ethereum Classic pool. Even better, the company offered 0% fees to its Ravencoin, Ergo, and Beam mining pools in September.

It seems less likely that smaller pools will fork the network than larger ones. An executive at Canadian mining pool company Flexpool previously stated that

“It’s like a typewriter company. Nobody buys typewriters anymore, so you have to use the money you make on typewriters to move to other industries.”

Ethereum Miner Guide

The platform states that, after the merger, it will be impossible to mine Ether with GPUs or ASICs of. After the PoW phase of the network is over, the pool will switch to a withdrawal-only mode, miners are told.

Ethermine goes into more detail about what miners should do and says,

” In order to receive your final payment outstanding balance, a manual payment can be triggered on your personal dashboard page. If your If your unpaid balance exceeds 0.005 ETH, you can request a manual payment. For manual payments, transaction fees will be deducted from your unpaid balance.”

At the time of writing, Ethereum (ETH) is at $1738.08, down 0.24% on a daily basis.

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