The much-anticipated switchover of the Ethereum blockchain from its current proof-of-work mining agreement to proof-of-stake is about to occur. The change will accelerate and lower the cost of the leading blockchain for smart contracts and decentralized applications. Ether has increased 52% in the last 30 days, thanks to ecstatic investors. The aging of mining equipment costs millions of dollars, and many ardent miners’ falling profitability are major problems. They threaten to maintain the Ethereum network’s original Proof-of-Work configuration to protect their investment.
By implementing the update, they could split off and develop their PoW versions of Ethereum as a protest. The branching networks’ wallet balances and transaction histories would be the same as Ethereum’s before the chain merge.
Due to the possibility of censorship associated with ETH2.0 (The Merge), ANTPOOL will be unable to retain customers’ ETH assets on the PoS chain to protect their client’s assets. To get the collected ETH assets on ANTPOOL, ETH miners must submit an ETH wallet address to their existing account before 2022/09/03 00:00 (UTC+0).
For customers who intend to keep excavating Ethash tokens like ETC, ANTPOOL will continue giving Ethash mining pools and will do everything possible to guarantee hash power consistency and asset security.
One of the biggest PoW mining pools in the globe, ANTPOOL supports Satoshi Nakamoto’s decentralized PoW consensus and acknowledges BTC, ETC, and other PoW coins.
ANTPOOL has consistently given its all to the growth and upkeep of the PoW ecosystem. It is dedicated to harnessing innovation to dominate the blockchain sector and embrace a promising future with limitless potential.
The Bitmain-owned pool Antpool said it would continue to provide services linked to the Ethash mining pool for anyone who wanted to continue mining Ethash currencies like ETC. The pool will take all necessary measures to ensure the stability of hash power and the protection of the assets. Antpool’s Operations Support Staff underlined its promise to be one of the largest mining pools using PoW consensus.
They also revealed that the pool has always prioritized the growth and upkeep of the proof-of-work environment. The team continued by stating that Antpool is determined to lead the Blockchain sector by utilizing technology. They claim that it will incorporate modern innovations and provide users with a wide range of options.
Since the US OFAC decision to punish Tornado Cash, worries regarding Ethereum censorship have increased. According to several observers, the blockchain network’s transition to a proof-of-stake consensus mechanism could increase its susceptibility to censorship.
The information comes after Antpool’s declaration on July 26 that it had spent $10 million to enhance Ethereum Classic, which mining pool CEO LV Lei made during Bitmain’s Mining Summit. At block height of 15,817,701 on 26th August 2022, ETC’s hash rate once more hit an all-time peak, reaching 39.58 Terahashes per Second (TH/s). Additionally, Ethermine announced that it would stop supporting ETH resources and would not even mine any PoW version of ETH.