The second largest Ethereum (ETH) mining pool f2Pool considers ETH mining to be over with the era of Proof of Stake.
As the Ethereum (ETH) network prepares to transition to Proof of Stake, the focus is on what miners will do. In this case, it considers the transition to Proof of Work friendly networks in order to maintain the miners’ operations.
Decision of Miners in the f2Pool Network
f2Pool, Ethereum’s second largest mining pool, said that the decision to support Ethereum Merge rests with the pool’s miners. “Interestingly, the pool has acknowledged that the era of PoW is over and a transition to eco-friendly PoS is needed,” crypto reporter Colin Wu tweeted.
f2Pool said in a statement:
“It no longer matters whether we support the Ethereum fork or not. We’ll let the mitner community decide. However, we accept that the ETH PoW era is over and let’s move on to the new PoS Era.”
Everyone Is Grateful To Miners For Keeping Ethereum Safe
f2Pool said they are grateful to the miners for keeping the network secure for over 7 years. Apart from that, f2Pool also emphasized that the participants in the Ethereum mining pool have evolved from individuals to public companies.
“Ethereum miners are the unsung heroes of the Ethereum ecosystem. They tend to be in the background and have been quietly securing the Ethereum chain for over 7 years. We have Ethereum miners ranging from public companies to individuals in Ukrainian villages and Siberian factories.”
It is worth noting that the transition to PoS will remove Ethereum miners from the network, and mining pools are divided over their options. Moving to Ethereum Classic (ETC), which still uses PoW, appears to be a possible option for miners. Existing miners will be able to stay in the system as switching to ETC mining will require minor upgrades.
Amid the split between mining pools, Ethereum co-founder Vitalik Buterin hailed miners who chose ETC as a possible destination, also arguing that another fork is unlikely to cause ‘significant’ damage to Ethereum after the Merge. According to Buterin, ETC is a better PoW alternative to Ethereum.
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