End of Ethereum mining: what’s next for GamerHash miners

The Ethereum plan to change its consensus from Proof-of-Work to Proof-of-Stake is no longer a plan, it’s coming true. Keep reading to get to know what it means in general and what for GamerHash miners.

ETH is moving from PoW to PoS

Let’s start from a brief differentiation between PoW and PoS.

In PoW consensus (Ethereum is based on it at this very moment) transactions are being gathered into the blocks, which are being “,,mined” by the network members of the network called miners, that are willing to use their hash-rate power (represented by the high specialized computing units such as ASICS) to both secure and develop the network.

In PoS consensus, transactions are being validated by so-called validators, who have to put their own capital in the form of native coins of the network in order to secure it. In exchange, the main expenditure in this case for the actors is the aforementioned capital, called Stake.

And stake means the end of mining in the case of Ethereum and only the beginning for other mining possibilities at GamerHash.

The Merge date

The estimated date of The Merge is September 15, 2022 — which might be subject to change depending on a target Terminal Todal Difficulty (TTD).

Next steps for GamerHash app users who mined ETH

Have you mined ETH with us? Don’t worry, we got you covered with a range of possibilities, depending on the way you mine.

If you mined ETH with the GamerHash app

If you mined ETH with the GamerHash app, you don’t have to take any action — we handle everything for you. By the time Ether moves from Proof-of-Work to Proof-of-Stake, we will switch you to the most profitable mining option available in our ecosystem.

If you mined ETH with an ASIC

If you mined ETH without using GamerHash application i.e. with an ASIC, you will have to switch to Ethereum Classic (ETC) or Ravencoin (RVN) pools. To do so, please follow our instructions under the link here.

More?

We will observe the mining market and add the most profitable coins so you earn as much as possible with us. If you still have some unanswered questions, head to our Discord server where Julka and the Team will help you out.

Stay tuned!

End of Ethereum mining: what’s next for GamerHash miners was originally published in GamerHash on Medium, where people are continuing the conversation by highlighting and responding to this story.