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Recently I’ve come across some chatter online about whether Ethereum’s change to PoS in the imminent future with their Constantinople update (2/2 of the most recent planned HF by the ETH team — https://www.ethnews.com/whats-next-for-the-ethereum-blockchain-with-constantinople )
Folks have speculated openly whether this will result in a massive exodus of miners whom will be forced to mine on the Ethereum Classic network once the consensus algorithm for Ethereum has been updated.
Check out this Reddit post that I believe accurately sums up why this wouldn’t happen.
And here’s a screenshot for that link below:
Hopefully that screenshot has came up clearly enough to be read ^
If not, please leave a comment on the article and I’ll make the changes ASAP.
ASIC Miners May Be Coming Though
Check out this recent post from 8btc: http://news.8btc.com/bitmain-to-release-ethereum-asic-miner-f3-with-72gb-ddr3-dram-in-q2
Ethereum stated their intentions to move to Proof of Stake several months ago. There’s no doubt that Bitmain was well aware of this, so we’re inclined to think that this would indicate that the technology is meant to be specifically used for Ethereum Classic (no other viable Ethereum chains with a comparable mining algo code is in existence).
What Does This All Mean?
If you’ve tracked the price recently — you’ll see that Ethereum Classic is getting throttled in the market.
Many people, myself included, believed that the price would increase for Ethereum Classic based on $CLO airdrop occurring on March 5th.
So, Are We Screwed?
Not at all. The money will be made. This project is nowhere near death and it’s going through it’s own market cycle.