AntPool decides not to maintain accounts with ETH on POS chain

The Crypto mining pool AntPool decided not to maintain Ethereum (ETH) coin account, after Proof-of-stake Beacon chain merge with Ethereum, for the users.

Ethereum is the biggest Proof-of-work (PoW) crypto blockchain network, just after Bitcoin. Due to the inefficient nature of the Proof-of-work consensus, Ethereum developers are working hard to shift the Ethereum blockchain network to a Proof-of-stake consensus, to make the network highly efficient & useful for small crypto transactions. Under “TheMerge” successful upgrade plan, Ethereum will operate on a Proof-of-stake model but this upgrade will change huge numbers of things in the Ethereum ecosystem like the probability of censorship in particular countries.

On 27 August, AntPool, a popular crypto mining pool, announced that it will suspend its direct management support for Ethereum (ETH) on Proof-of-Stake consensus, after TheMerge. 

AntPool noted that the Ethereum network on Proof-of-stake will be associated with a particular country’s location based censorship features and that will be a big problem for the mining pool to handle the ETH pos account of users.

So in favor of the customers, AntPool decided only to support ETH addresses till 3 September and also asked the users to provide their private ETH addresses. 

 Indeed Bitmain operates an AntPool mining pool on the Ethereum blockchain, where all the ETH miners mining Ethereum together via accommodated hash power. 

AntPool confirmed that it will continuously support Ethash tokens like Ethereum Classic (ETC), which is based on the Proof-of-work consensus model. Through the blog post, AntPool said that the platform always supported the PoW ecosystem-based infrastructure. 

“POOL has always devoted itself to the development and maintenance of the PoW ecosystem,” the post said.

Ethereum’ TheMerge helping Ethereum Classic

Because of the Ethereum Merge plan with Proof-of-stake Consensus chain, the majority of the Ethereum miners are shifting to the Ethereum Classic network.

After Ethereum, crypto miners have Ethereum classic as the best choice to mine and earn money.

Recently AntPool announced a $10 million fund for the Ethereum classic ecosystem development.

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