Here’s why miners can move to Ethereum Classic (ETC) after ‘The Merge’! On August 22nd, the Ethereum Classic official Twitter updated the community on ETC and miners following ‘The Merge’.
‘The Merge’ and Miners
The topic of miners leading up to ‘The Merge’ does not seem to slow down. ‘The Merge’ is a change in Ethereum from Proof-of-Work (PoW) to Proof-of-Stake (PoS). People may also be familiar with the concept of Ethereum 2.0, the new version of Ethereum that uses PoS.
However, the community is aware that ‘The Merge’ will impact miners. Miners gain income from mining activity, which will no longer be possible after ‘The Merge’. As the event is happening next month, more people and businesses mention what they will do. A few days ago, Ethermine, the largest Ethereum mining pool, announced the plan to halt mining activity as soon as ‘The Merge’ happens.
This time, the Ethereum Classic pointed out its views on the matter.
Why Ethereum Classic (ETC)?
On August 22nd, Ethereum Classic (ETC) posted a newsletter by Stevan Lohja about ETC can be an option for miners after ‘The Merge’.
— Ethereum Classic (@eth_classic) August 22, 2022
Lohja said in the newsletter, “Ethereum Classic (ETC) is the canonical proof-of-work Ethereum blockchain that will continue to be proof-of-work for the foreseeable future. So, ETC seems a natural choice for Ethereum miners to move to.”
What should they do? A miner or pool can familiarize themselves with the compatible hardware, software, and pools. In addition, the Ethereum Classic also provides information on mining resources on its official website.
Since ETC will continue to use PoW in the future, it can be a good choice for miners. Therefore, miners can keep operating in the industry.