Popular Bitcoin mining pool, Antpool has announced its intention to stop managing Ethereum-based accounts after the merger. Antpool has instructed every participant in its mining pool to merge Ethereum release addresses before September 3. According to the protocol, this will allow them to receive their accumulated Ether tokens.
Antpool’s decision to stop supporting Ethereum assets comes a week after it invested $10 million in Ethereum Classic (ETC). According to Antpool, “ETH 2.0 comes with the risk of censorship in various countries;
Antpool, for the security of customers’ assets, cannot keep user’s ETH assets on the PoS chain. The pool maintained its preference for decentralized proof-of-work by Satoshi Nakamoto. Antpool says it still “fully supports BTC, ETC and other PoW tokens.”
What you need to know about the upcoming Ethereum merger
This development comes on the heels of the Ethereum Foundation’s announcement of a merger in September. The integration is an upgrade to Ethereum, thereby moving the blockchain to a proof-of-stake (PoS) model. According to the foundation, the merger will be revealed when the Ethereum Mainnet confirms the height of 15,540,293.
It also states that the update will be revealed in two stages: Bellatrix and Paris. As designed, the Bellatrix level opens up as a consensus layer to allow “merging” of the beacon chain. On the other hand, Paris will see the transition of enforcement layer 1 from proof of work to proof of stake.
Before the merger, Antpool now gave its customers a September 3rd ultimatum to mine the rest of the ether mined by Antpool Ethereum. The pool noted that the recent merger raises several censorship concerns. However, next month the rest of the ETH Antpool promised to share the mining.
Antpool “promises that it will continue to provide Etash mining pool services to users who plan to mine Etash tokens such as Ethereum Classic, and will do its best to ensure hash power stability and asset security.”
The Ethereum blockchain enjoys a hash power of about 1,000 Terashes per second (TH/s). Ethermine is currently the largest ETH mining pool. It controls over 263 terabytes of hash power. Antpool, on the other hand, is ranked tenth in the list of ETH mining pools. 17.9 terash is said to command hash power. Like Antpool, Ethermine has decided to stop supporting ETH assets. The pool has hinted that it will not mine the new PoW version of ETH.
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