world’s largest Ethereum Ethermine, the mining pool, will stop providing Proof of Work (PoW) services after its ETH network transitions to Proof of Stake (PoS) and will not be available for planned PoW hard forks.
The ETH network will roll out the consensus algorithm on Thursday, which will eliminate the need for miners.
Some in the community were suggesting that network forks should continue to use the PoW method to validate transactions.
However, Ethermine has decided not to “offer a dedicated mining pool for any of the planned Ethereum PoW hard forks,” in a post Wednesday.
Once the transition occurs, PoW mining will not be possible on Ethermine as “all Ethermine stratum servers will be shut down” and the pool will switch to withdrawal only mode.
Ethermine Will Continue Mining Other Altcoins Other Than Ethereum
Ethermine users can use other associated servers to mine Ethereum Classic, an older PoW token. Users will also be able to mine Ravencoin (RVN), Ergo (ERGO), and Beam (BEAM).
According to Mining Pool Stats, Ethermine is the world’s largest mining pool for the Ethereum Blockchain.
As it is known, with the transition of ETH to the Proof of Stake mechanism, it is on the ETH network. cryptocurrency The need for miners will disappear. After the migration, the verification of transactions on the ETH network will be carried out by ‘stakers’ who deposit a certain amount of coins into the network.
The Proof of Stake consensus mechanism is known for being extremely environmentally friendly, according to PoW.
*Not investment advice.
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