The Ethereum consensus switch from a Proof-of-Work approach to a Proof-of-Stake is all but here. According to current predictions, the expected switch is likely to happen by the end of the first half of September, and once it’s done, a vacuum will be created in the mining world.
Indeed, with so much hash power and attention having been dedicated to Ethereum mining, all of the hard-working miners will now have to look elsewhere to place their focus. Following the Ethereum Merge, no more ETH will be able to be mined with either GPU or ASIC, so a switch is in order.
What to switch to? Why, æternity!
The developers of the Ethereum blockchain have defined the conditions for the PoW to PoS switch that make it easy for all of us to follow the progress of the Merge. These conditions operate with the parameter which is known as the Total Terminal Difficulty of the network. The calculations behind the Total Terminal Difficulty are complex, but, luckily, their progress can be easily followed using resources such as Wen Merge?
Observing the accessible data, it is evident that the switch is imminent. Of course, Ethereum developers could theoretically postpone this with a higher TTD, but it is not very likely that they will opt to do so.
Once the Merge is complete – the Ethereum network will not be accepting any PoW-created blocks. The mining will die, likely on September 14, 2022.
While there are groups seeking to continue with mining efforts that are adjacent to Ethereum – such as the newly emerged EthereumPoW project – these switch ideas will be neither seamless nor smooth. Ethereum mining will most assuredly cease to exist for all intents and purposes.
RIP ETH mining.
Luckily, with ETH mining no longer a thing – all of the miners out there need not despair!
This is where æternity blockchain comes in and carries the torch of PoW philosophy at its core. Mining Æ has never been easier nor more inviting than this year, and, after the Merge, it will only become a more alluring endeavour.
With all that colossal hash power being unleashed onto the PoW blockchain mining world, the boost others could get would be significant, which is why you should consider your options now. Sufficient to say that the best switch would be something that holds the most long-term benefits and, also, the most safety and security that a PoW approach will remain in place and not force miners to seek another mining direction soon.
All the more reason to pick the æternity blockchain.
The æternity blockchain offers a more scalable smart contract platform with advanced built-in features, such as state channels for smart contracts, a human-readable naming system, built-in oracles, and a hugely efficient virtual machine – FATE. With the æternity blockchain, the vision of facilitating fast transactions without forfeiting decentralization and rich functionality – is becoming a reality.
Additionally, æternity has certain other advantages going for it! The mining difficulty is rather low, currently standing at 103.97 thousand, and there are a lot of miners out there. Having said that, it is also important to keep in mind that it is easy to pool mine.
You can start mining in 3, 2, 1 – now!