The Ethereum community has been waiting for the Merge for years. It took a long debate before the merger process was initiated. And after some postponements, the date of the operation was finally set. Now analysts are focusing on miners including the Ethereum (ETH) network won’t really need it anymore after the Merge.
Under tweet from Forbes Crypto on August 21, “ Ethereum miners will have few good options after the merger ». According to the Ethereum developers’ programming, the Merge will take place at block number 587500000000000000000000. This issue will probably fall between September 15 and 16. At that time, Ethereum (ETH) will migrate to the Proof-of-Stake (PoS), which will make it more secure. The operation of the network will then be more focused on validation nodes.
The Ethereum (ETH) network will therefore no longer need miners. The latter will then have in their possession almost $ 4 billion worth of equipment that we will have to find a way to exploit otherwise. Currently, only two options are available to them. The first: turn to other coins compatible with their machines like Ethereum Classic (ETC).
The second option is to use their devices on the small part of Ethereum (ETH) which will continue to exploit the Proof-of-Work (PoW). Only, neither option will allow miners to earn as much income as before.
Few interesting options are available to Ethereum (ETH) miners after the Merge. Note that miners continued to invest in mining equipment as the Merger approached. This is due to the fact that they were taking advantage of the situation. Indeed, the mining of the network has been extremely lucrative since 2021 until today. Its financial performance exceeded that of mining on the Bitcoin (BTC) network.
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Behind the generic signature “Editorial CT” are young journalists and authors with special profiles who wish to remain anonymous because they are involved in the ecosystem with certain obligations.