In a poll on the altcoin that Proof-of-Work coin Ethereum miners will pass after Mege, Flux (FLUX) received almost half of the votes.
After Ethereum Merge, miners will prefer Flux!
A Twitter poll by node operator Cryptovium revealed that most Ethereum miners plan to mine Flux after Merge. In the survey, he asked him to share his views, saying, “After the upcoming ETH Merge, I wonder where all the miners are planning to move their platform to.”
Recent estimates give September 19 as the date when Merge will occur. The highly anticipated event will combine the existing Proof-of-Work (PoW) settlement layer with the Proof-of-Stake (PoS) Beacon Chain. Thus, it will eliminate the need for miners to verify transactions and support the system. According to experts, the Ethereum protocol will become more efficient with a 99.95% reduction in energy consumption. Proponents also say that Merge will improve efficiency and scalability. In addition, they argue that it will introduce a deflationary direction through reduced token issuance.
cryptocoin.com As you follow, bottom-to-top gains since mid-July have been +94%. It shows that investors are waiting for the ETH price to increase further. However, whether the Merge is priced in is a matter of debate. At the start of the event, Analyst Miles Deutscher identified four variables likely to affect Merge. These are the potential for delays, the consequences of a PoW fork, censorship resistance of the PoS Blockchain, especially in light of Tornado Cash sanctions, and the return on stake after the merge.
4 major $ETH Merge variables have arisen:
Will it be delayed?
What % will a POW fork constitute?
Is OFAC risk a real concern following $TORN?
What will post-merge yield be?🧵: All of them lead to one final question: Is The Merge priced in? This thread will help you decide.👇
— Miles Deutscher (@milesdeutscher) August 22, 2022
Flux became the number one choice for miners
Aside from the unanswered questions asked by Deutscher, the confusion from Merge is putting existing Ethereum miners in a stalemate. Which GPU compatible coins should they issue instead?
A survey conducted by Cryptovium listed four options as Ravencoin, FLUX, Ergo and Ethereum Classic. Flux was the most popular election with 45.7%, taking almost half of the votes. Ravencoin was next with 27.3%, followed by Ergo with 22.11% and finally Ethereum Classic with only 4.9%.
Ethereum co-founder Vitalik Buterin recently supported Ethereum Classic, which PoW Blockchain miners must pass. In this context, he made the following statement:
A very welcoming community. I think they will definitely welcome Proof of Work fans. If you like Proof of Work, you should use Ethereum Classic. This is a totally good Blockchain.
In this respect, the results were quite surprising. One user questioned the validity of the survey, asking if cryptovium’s follower base would act as an echo chamber and skew the results. cryptovium acknowledged that this might be the case. However, he pointed out that surveys often attract ‘other communities’ as well.
