FLUX Will Be The Token Chosen By Miners After The Merge

A Twitter poll by node operator @cryptovium revealed that most Ethereum miners intend to mine FLUX after The Merge.

Recent estimates indicate September 15 or 16 as the date The Merge will occur. The highly anticipated event will move Ethereum to Proof-of-Stake (PoS) – thus eliminating the need for miners to validate transactions and maintain the system.

The Ethereum protocol will become more energy efficient, with energy consumption reduced by 99.95%. Advocates also say that Merge will improve efficiency and scalability and bring about a deflationary aspect by reducing token issuance.

The bottom-to-top gain since mid-July is more than 94%, indicating that investors expect ETH prices to skyrocket further. However, whether The Merge is valued is a matter of debate.

During the event, Analyst Miles Deutscher identified 4 variables that could impact The Merge. Such is the deferral, PoW fork, and censorship resistance of the PoS chain, especially due to Tornado Cash sanctions and post-merger staking returns.

A poll conducted by @cryptovium listed four options, Ravencoin, FLUX, Ergo, and Ethereum Classic. Out of 10,347 participants, FLUX was the most popular choice, capturing almost half of the votes at 45.7%.

The results are surprising as Ethereum co-founder Vitalik Buterin recently confirmed Ethereum Classic as the PoW chain that miners should move to.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.