ITD, RVN, ERGO Hashrate Soars Following The Merge, Large Quantity of Hashpower Awaits ETHW Fork

Ethereum has officially transitioned from a proof-of-work (PoW) network to a proof-of-stake (PoS) system after seven years of operating as a PoW blockchain. The Merge has forced ethereum miners to transition to other PoW-based tokens and after the ruleset change was codified, a handful of PoW coins compatible with the Ethash algorithm saw their hashrates skyrocket. Ethereum Classic’s hashrate has tripled in size since The Merge was triggered by Ethereum’s Paris Upgrade.

5 Tokens Reap the Benefits of Ethereum’s Leftover Hashrate

Ethereum, the second largest crypto asset in terms of market capitalization, now operates under a proof-of-stake (PoS) blockchain system. Združitev je bil triggered by the Paris Upgrade on September 15, v višini bloka 15,537,391 pri 2:42:42 zjutraj. ET. A few hours prior to The Merge, Ethereum’s hashrate plummeted significantly, and a great deal of hashrate was pointed at Ethereum Classic (ITD).

During the early morning hours (ET) on September 15, ITD’s hashrate was around 80.77 terahash na sekundo (TH/s). Hours after The Merge on September 16, ITD’s hashrate increased by 228%, jumping to the current 228.62 TH/s. ITD was the main beneficiary in terms of getting the most hashrate from Ethereum’s forced transition from PoW to PoS. Vendar, a handful of other tokens with similar hashing algorithms also saw a significant rise in computational power.

At the start of the day on September 15, Ravencoin’s (RVN) hashrate was around 10.15 TH/s but the following day it was up 64.23% pri 16.67 TH/s. Ergo saw a significant hashrate jump as it started off at 56.39 TH/s on Wednesday and by Thursday morning (ET) it’s 123.94% višje pri 126.28 TH/s.

A Significant Quantity of Hashrate Is Still Missing — Hashpower Is Seemingly Waiting for the New Fork

In addition to ITD, ERGO, and RVN, the crypto network FLUX and BEAM saw increases in hashrate as well, but a much smaller percentage compared to ITD’s and ERGO’s climb. FLUX hashrate jumped 40% higher and BEAM saw its computational power spike by 74.25%. While a great deal of hashrate has been dedicated to the five aforementioned tokens, Ethereum’s entire hashrate did not transfer to ITD, ERGO, BEAM, FLUX, or RVN. Seemingly a great deal of hashrate either simply shut off or the miners are waiting for the new Ethereum proof-of-work network ETHW.

Here is a list of mining pools that are on the way, it will be updated as more pools are joining.
Just wanna say THANK YOU ALL!https://t.co/TwIB7VFlJd

— EthereumPoW (ETHW) Official #ETHW #ETHPoW (@EthereumPoW) septembra 15, 2022

The team behind ETHW, who remain anonymous, pojasnil two days ago that the blockchain network would launch 24 hours after The Merge. According to the official ETHW Twitter page, large mining pools such as Btc.com, Bazen, F2pool, 2miners, Antpool, Bitdog, and Solomine plan to dedicate hashrate to the ETHW chain.

“Nanopool is going to support EthPow Ethereum fork expected to be minable in 24 hours after the ETH Merge occurs,” the mining operation Nanopool napisal v sredo. No one is quite sure how much hashrate has held back to wait for the ETHW fork but quite a bit of ETH hashrate is still missing despite the spikes recorded by RVN, ITD, and ERGO.

What do you think about the alternatives miners have chosen after The Merge? Do you think a large amount of hashrate awaits the new fork? Sporočite nam, kaj mislite o tej temi v spodnjem oddelku za komentarje.

Jamie Redman

Jamie Redman je vodja novic pri Bitcoin-Tidings.com News in finančni novinar, ki živi na Floridi. Redman je od takrat aktiven član skupnosti kriptovalut 2011. Ima strast do bitcoinov, odprtokodna koda, in decentralizirane aplikacije. Od septembra 2015, Redman je napisal več kot 6,000 članki za Bitcoin-Tidings.com Novice o motečih protokolih, ki se pojavljajo danes.

Zasluge za slike: Shutterstock, Pixabay, Wiki Commons