The Ethereum Merge has been one of the most anticipated events of the crypto world. It is designed to merge the original Proof of Work network of Ethereum with the Proof of Stake Beacon chain.
Ethereum mining has been one of the most profitable ways to earn ETH. While researchers at the Ethereum foundation are working on making the merge seamless, a major subject was missed during the course that is
‘What will happen to Ethereum mining?’ ‘Will it end after the merge’?
With the new upgrade, several potential changes could happen to the protocol. In recent research, a researcher at the Ethereum Foundation pointed that the MEV boost solution designed to connect operators between block builders and validators could turn rogue. This means that there could be obstacles between miner and validator activity.
With that being said, Ethereum miners are in a perplexed situation as the transition from Proof of Work to Proof of Stake protocol could potentially reduce the miner activity and the rewards. Many believe that ETH mining will not disappear so soon. Chandler Guo, crypto investor and miner tweeted ‘Eth pow will be coming soon’. The statement is quite the opposite to Ethereum Proof of Stake is coming soon.
ethpow will coming soon pic.twitter.com/v9eAbWO2BZ
— Chandler Guo (@ChandlerGuo) July 27, 2022
Chandler’s tweet could be a hint that ETH mining is not going anywhere. In a statement, Chandler explained that he and other miners would continue to support the original Proof of Work network of Ethereum. There are many arguments around Ethereum continuing the Proof of Work network alive. The World is waiting to see the Ethereum Merge unfold.
Another reason to believe that ETH mining will continue to work as there is a huge community out there that have mined Ethereum and have been ardent supporters of the technology. Chandler Guo recently tweeted that he will fork the Ethereum blockchain.
i fork ethereum once，i will fork it again！ https://t.co/3DdlZ3zMz9
— Chandler Guo (@ChandlerGuo) July 27, 2022
With Chandler being bullish on forking the blockchain, chances are that the original POW has chances to survive. It is quite obvious that the Chinese investor is resisting the transition and is planning to develop his own blockchain with a POW protocol that he has named ‘ETHPOW’.
It is not surprising because when developers forked the Ethereum blockchain to seek a remedy for a massive attack on the Ethereum blockchain, a new blockchain was formed called Ethereum Classic with its native crypto ETC. Guo was one of the developers to fork the ETH blockchain.
Guo’s plan to develop a new blockchain that he for now is calling ETHPOW would require a lot of financial and technical support. In addition to these prerequisites, the new blockchain would need a utility and value definition. Store of value and the store of exchange for any crypto does not develop overnight.
Whether ETH mining will continue to work or not will only be clear when the Ethereum Merge is complete. The functioning of the blockchain post the Merge will give the mining community a clear picture of where they stand with the newly developed blockchain.
Additional Read: Ethereum Merge Update
Source: The Coin Republic, Decrypt.
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