The update of the Ethereum network to a proof-of-stake model in late September puts the current miners of this digital currency in a bit of a quandary. They either have to sell their equipment or choose between digital currencies that can be mined with GPUs to continue their activities; But which digital currencies will these miners go for to continue their activities?
According to Crypto Slate, according to the latest announcement of the Ethereum Foundation, it is expected that the Merge update, which is the last necessary step to change the mechanism of the Ethereum network from a proof-of-work model to a proof-of-stake model, will take place between September 10 and 20 (19-29 September). to be After this update, the Ethereum network will no longer need miners to maintain its security and process user transactions.
In addition, the Ethereum protocol will be more optimized in terms of energy efficiency and the electricity consumption of this network will be reduced by 99.95%. Proponents of the move to a proof-of-stake model say the Merj update will increase Ethereum’s efficiency and scalability over time, and by slowing down the issuance of new tokens, it will make the Ethereum digital currency an anti-inflationary asset.
As the discussion of updating the Ethereum network to the second version became more serious, the price of this digital currency started a new upward trend from mid-July and reached the highest level of $2,031; That is, a 100% jump from the starting point of this upward movement ($1,005 level). Some investors expect the price of Ethereum to experience a further jump with the update; But the effect of the network update on the price of Ethereum is not the main topic of this discussion.
Changing the mechanism of the Ethereum network to a proof-of-stake model puts the current miners of this digital currency in a predicament. They either have to sell their equipment (graphics card mining rigs) or choose between digital currencies that can be mined with GPUs to continue their activities; But which cryptocurrencies will these miners choose?
Cryptovium, one of the activists in the field of digital currency, which also has a lot of followers on Twitter, recently held a poll on its personal page, in which the names of four digital currencies, Ravencoin, Flux, Ergo Ergo) and Ethereum Classic as the top alternatives to Ethereum and asked his followers to say which cryptocurrency they would mine as an alternative to Ethereum with their rigs after the merger.
The final results of the Cryptovium survey are a bit of a surprise. A total of 10,347 people participated in this survey, of which 45.7% chose Flux as an alternative to Ethereum. Ravencoin and Ergo each received 27.3% and 22.1% of the users’ votes respectively, and finally, Ethereum Classic was chosen by only 4.9% of the participants.
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The results of this survey seem more surprising because Vitalik Buterin, the co-founder of the Ethereum network, previously said that proof-of-work fans could switch to Ethereum Classic after the Ethereum update.
The creator of Ethereum said:
The Ethereum Classic community is very supportive of the game, and I imagine they’ll welcome proof-of-work fans as well. If you’re a proof-of-work fan, you should be [بعد از بهروزرسانی اتریوم] Use Ethereum Classic. Ethereum Classic Blockchain is perfectly fine.
Some users believe that Cryptovium’s Twitter followers are mostly followers of the Flux project, and therefore the results of this survey cannot be relied upon as a means of representing the general opinion of miners. Cryptovium itself hasn’t ruled out the possibility, but says that polls like this usually attract contributions from communities other than followers of a particular project.