What's Hot

    First Citizens to Buy Silicon Valley Bank

    March 27, 2023

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    Africa Moving to Crypto as Alternative to US Dollar

    March 27, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      First Citizens to Buy Silicon Valley Bank

      News March 27, 2023
      Recent

      First Citizens to Buy Silicon Valley Bank

      March 27, 2023

      Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

      March 27, 2023

      Africa Moving to Crypto as Alternative to US Dollar

      March 27, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Ethermine Set to Stop Mining Services for Ethereum Network
    News

    Ethermine Set to Stop Mining Services for Ethereum Network

    Anietie DavidBy Anietie DavidSeptember 14, 2022Updated:September 14, 2022No Comments2 Mins Read
    Ethermine Set to Stop Mining Services for Ethereum Network
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The biggest Ethereum mining pool in the world, Ethermine, won’t continue to provide services for the anticipated PoW splits when the Ethereum network converts to proof-of-stake (PoS).

    On Thursday, the Ethereum network is scheduled to change its consensus mechanism, doing away with the requirement for miners. Some members of the community had suggested that the network fork in order to keep employing the PoW technique of transaction validation. However, according to a message on the pool’s website on Wednesday, Ethermine chose not to “provide a dedicated mining pool for any of the upcoming Ethereum PoW splits.”

    PoW mining won’t be feasible on Ethermine after the move because “all Ethermine stratum servers will be shut down,” according to the pool, and the pool will change to withdrawal-only mode. Users of Ethermine can mine Ethereum Classic on other associated servers. Additionally, users will be able to mine ravencoin (RVN), ergo (ERGO) and beam (BEAM).

    According to Mining Pool Stats, Ethermine is the biggest Ethereum blockchain mining pool in the world.

    Lido Finance Declines as ETH Merge Approaches

    Bears gained control of the price of Lido Finance (LDO), reporting double-digit losses after making significant gains last month. As of the time of writing, LDO was down about 10% over the previous 24 hours and was trading at $1.78. Over the previous month, it too lost more than 40% of its worth.

    Due to delayed staking demand and conflicting predictions for the Merge, the token had been in a rise steadily before the event but has lost steam since mid-August. Since that time, its price has moved in a narrow range. However, a lot of industry insiders think that the Merge may eventually turn into a “sell the news” event, prolonging its downward path.

    The most well-known supplier of Ethereum 2 staking-as-a-service is Lido. According to a recent Nansen analysis, Lido really accounts for 31% of all ETH invested.

    Statistics also show that Lido has, on behalf of its consumers, put more than 4.14 million ETH into the Ethereum 2.0 smart contract.

    Blockchain Cryptocurrency ETH Merge Ethereum Ethereum Merge
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleSouth Korean Court Issues Arrest Warrant for Terra CEO, Do Kwon
    Next Article Thailand’s SEC Bans Crypto Platforms Offering Staking and Lending Service
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    First Citizens to Buy Silicon Valley Bank

    March 27, 2023

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    Africa Moving to Crypto as Alternative to US Dollar

    March 27, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    New Crypto Mining Bill in Russia Mandates Earnings Reports

    March 10, 2023

    India Pushes Anti-money Laundering Regulation for Crypto Transactions

    March 8, 2023

    Zambia Explore Crypto Regulatory Framework 

    February 20, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.