For a number of reasons, the Ethereum [ETH] network has been the talk of the crypto community. The Merge is unquestionably one of them, but there is also talk about the possibility of a hard fork. The Merge would make miners’ significance or importance to the Ethereum network irrelevant. Chandler Guo, a Chinese cryptocurrency miner, made the decision to defend these miners because this would disturb the livelihood of many people. After the Merge, Guo has been strongly drawn to the concept of forking the Ethereum network. While some people continue to doubt its occurrence, others have expressed optimism. The biggest ETH mining pool, however, disagreed with Guo’s proposal.
The network’s PoW mining phase has come to an end, according to a blog post by Ethermine, the biggest Ethereum mining pool. According to the site, a “dedicated mining pool for any of the planned PoW fork” will not be available.
Platforms such as Poloniex, BitMEX, and others have endorsed the PoW hard fork. However, the vast majority of them have avoided doing so. For those planning to adopt a PoW chain, several of them have been promoting the usage of Ethereum Classic (ETC).
Additionally, Etheremine advised its miners to join the Ethereum Classic pool. Even better, the company provided a 0% fee on its mining pools for Ravencoin, Ergo, and Beam in September.
It appears that smaller mining pools were less likely to fork the network than larger ones. An executive from the Canadian mining pool company Flexpool had previously stated,
“It’s like a typewriter company. No one is buying typewriters anymore, so you have to shift into other businesses using the capital you made in typewriters.”
Ethereum miners’ Guide
The platform made note of how, after the Merge, mining Ether using GPUs or ASICs will be impossible. After the network’s PoW phase is through, the mining pool will switch to withdraw-only mode, miners were informed.
Ethermine went into more detail on what miners should do, and said,
“In order to receive a final payout of your unpaid balance, it will be possible to trigger a manual payout on your individual Dashboard page. It is possible to request a manual payout if your unpaid balance exceeds 0.005 ETH. For manual payouts, the transaction fee will be deducted from your unpaid balance.”
At the time of writing, Ethereum (ETH) was priced at $1738.08 with a daily drop of 0.24%.