Is Ethermine Breaking Up With Ethereum? Looking Ahead To Patch Up With Bitcoin?

What Is Ethermine?

Etheremine is basically an ETH pool operated by same administrator as Ethpool. Ethermine provides a PPLNS mining system to pander users who often choose pool for solo mining. Ethermine charges 1% fee and disperse the transaction fees from block.

Current Ethermine servers across the globe are us1(dot)ethermine(dot)org:4444, us2(dot)ethermine(dot)org:4444, eu1(dot)ethermine(dot)org:4444, asia1(dot)ethermine(dot)org:4444.

Ethermine currently operates at a hashrate of 287.8 TH/s, with a total of 3,37,835 active miners and 13,93,760 workers.

Ethermine is the best mining pool with respect to Ethereum currently.

What is a Mining Pool?

A mining pool is basically a cluster of crypto miners, who come together to join hands and blend in their resources over the network to elevate the possibility of discovering block, or otherwise successful crypto mining.

Understand the concept in this way, at one hand, a single folk makes a set up for computational power which he will use to find a block, you can imagine the kind of difficulty that folk will face. Now what if this process is organized by a cluster of individuals bringing their resources together, yes it will make it easier if they work together to discover a block. That is what the mining pools are for.

There are some perks, but negative aspects as well. A single miner will get entire rewards from mining a block, yes, money money. On the other hand, if a mining pool discovers and mines a block, all the rewards are dispersed among miners in equal ratio.

What Does Ethermine Offer?

Ethermine MEV-Relay has a lower latency connection to every mining node. Therefore it enables MEV searchers to submit bundles quickly in contrast to going through Flashbots mev relay.

The transaction will stay private until it has been involved in a block of Ethereum mined by Ethermine.

Ethermine will never disclose nor act of information received through this relay, and they are Fair Market Principles of Flashbots which are, correctness, finality, fairness, and privacy.

Transactions here are submitted through this endpoint alike the transactions received through public mempool.

What Is Ethereum 2.0?

Also known as Serenity, Ethereum 2.0 is an update to Ethereum blockchain. Upgrade aims to intensify the pace, scalability, and efficiency of the network, so it can allow more transactions and makes bottlenecks easier.

Most noteworthy fact regarding this is that it is going to make a shift from proof of work algorithm to a proof of stake design. The network is still waiting to be released, and we might witness this upgrade real soon.

How Will Ethereum 2.0 Impact Ethermine?

As we already know that Ethermine is a mining pool, which currently mines Ethereum, Zcash, Ethereum Classic, Ravencoin, and Beam.

ETH2.0, as we know it, will switch its algorithm from proof of work to proof of stake. This might force Ethermine to switch their mining focus towards other proof of work crypto assets.

In this case, Bitcoin appears to be the best option to focus on. It is a peer to peer transaction network, operating on Proof of Work algorithm.

How Will This Impact the Bitcoin Network?

Ethermine is the biggest mining pool in terms of Ethereum mining, and as it is given that ETH 2.0 will make a possible shift from PoW to PoS, BTC remains the best option to mine, which means it will increase network activity on Bitcoin network.

This will increase the hashrate over Bitcoin Network.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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