Where will the ETH miners go, when you can’t mine on ethereum any more? That’s the $19 billion question. cryptauxmargaux reports on the looming challenges presented by the potential merge.
, the full-stack bitcoin mining software and services provider, also has made investments in Ethereum mining, despite the upcoming possibility of a change of consensus mechanism.
Vera said that the group came to fruition because of concerns about the transition to PoS. “While there are varying degrees of concern, the commonality is that there has not been enough testing of PoS transition yet,” he noted. There are billions of dollars at stake, and the Ethereum Foundation, the nonprofit that oversees network software development, is moving too fast in its process to switch to PoS, causing enormous risk for miners and those holding ETH, Vera added.
Vera wouldn’t say whether Luxor believes Ethereum Classic would be a better alternative, just that it would coordinate with its partners to determine where its mining practices will turn.Hive Blockchain , the first publicly traded miner, also shared with CoinDesk its challenges with Ethereum in a post-Merge era.
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