{"id":66056,"date":"2022-08-19T16:15:56","date_gmt":"2022-08-19T13:15:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66056"},"modified":"2025-09-06T23:19:33","modified_gmt":"2025-09-06T20:19:33","slug":"largest-ethereum-mining-pool-will-not-back-pow-forks-of-the-network","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/largest-ethereum-mining-pool-will-not-back-pow-forks-of-the-network\/","title":{"rendered":"Largest Ethereum mining pool will not back PoW forks of the network"},"content":{"rendered":"<p>The largest mining pool on the Ethereum network <a href=\\\"https:\/\/ethermine.org\/announcement\\\">stated<\/a> that it would not support any of the potential forks based on the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\">Proof-of-Work<\/a> algorithm (PoW).<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cAfter seven long years of research and development, the Ethereum mining phase will end on <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-developers-narrow-the-timeline-for-the-switch-to-proof-of-stake\">September 15, 2022<\/a>. After that date, ether cannot be mined using GPUs or ASIC miners,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>After the merge, the platform will switch to withdrawal-only mode. All Stratum servers of the Ethereum pool will be disabled.<\/p>\n<p>According to the statement, the operator of the Bitfly blockchain service has reached the decision \u201cafter careful consideration\u201d.<\/p>\n<p>Ethermine will invite miners to mine one of the other cryptocurrencies:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>Ethereum Classic (ETC);<\/li>\n<li>Ravencoin (RVN);<\/li>\n<li>Ergo (ERGO);<\/li>\n<li>Beam (BEAM).<\/li>\n<\/ul>\n<p>To incentivize miners, the service will zero out the fees in the pools of these coins for September.<\/p>\n<p>In late July, miner Chandler Gu proposed launching a fork of Ethereum that would continue to operate on the PoW algorithm. The new network is intended to enable miners to continue mining after the main blockchain&#8217;s transition to Proof-of-Stake (PoS).<\/p>\n<p>Bob Summerwill, head of ETC Cooperative, which is leading the development of the Ethereum Classic ecosystem, in an open letter to Gu questioned <a href=\"https:\/\/u1f987.com\/en\/news\/etc-cooperative-questions-the-feasibility-of-ethereums-pow-fork\">the feasibility of the fork<\/a> and the prospects for the new network if it goes ahead. He urged supporters of the project to join mining ETC.<\/p>\n<p>Developers of Ethereum PoW (ETHW) described the fork <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-pow-fork-supporters-call-it-inevitable\">as an &#8220;inevitable response&#8221;<\/a> to the community and miners&#8217; requests. Among their objections to Summerwill&#8217;s arguments, they noted that the Ethereum Classic network simply cannot accommodate the released power, which exceeds its hash rate by an order of magnitude.<\/p>\n<p>Analysts at JPMorgan have suggested that <a href=\"https:\/\/u1f987.com\/en\/news\/jpmorgan-the-merge-will-hit-ethereum-miners\">ETC would be the main beneficiary<\/a> of the influx of miners after Ethereum&#8217;s transition to PoS.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The largest Ethereum mining pool Ethermine has stated that it will not support any of the potential forks based on the Proof-of-Work (PoW) algorithm.<\/p>\n","protected":false},"author":1,"featured_media":66057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,46,268],"class_list":["post-66056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-ethereum","tag-hardfork"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66056"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66056\/revisions"}],"predecessor-version":[{"id":66058,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66056\/revisions\/66058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66057"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}