Ethereum has just accomplished its aim to switch the mechanism of the network from the Proof-of-work to the Proof-of-Stake. Yes! Long-delayed merge of Beacon Chain and ETH Chain is now completed. But the question arises what should we do if we were involved in Ethereum mining?And, it stems from the fact that, as per the ETH platforms’ announcement, the mining platform of ETH, Ethermine is going to be closed soon in Sep 2023.
Well! There is nothing to worry about it as ETH will also continue rewarding all the miners as well. In addition to this, if they are interested in staking, ETH has already launched an Ethereum Staking platform to facilitate investors and miners with staking services. In this read, we will discuss the process of Ethermine and Ethermine Staking in detail, come along with me.
Ethermine is a platform that serves as a mining pool and its users to mine their tokens such as Ether, ZCash, and Ergo. The prominence of this platform could be interpreted by looking at its huge user base which has more than 222, 657 active miners. However, after opting for the staking, the ETH network is about the end its mining services and is all set to convert its miners to stakers. However, miners can still mine other mining-supported tokens such as Ergo and Ravencoin but it is not so profitable.
If the miners decided to be the ETH stakers, they will be known as validators. The expected APR that could be earned after staking is at least 5.3% to 7.3% as well as you can make more predictable returns by running more than one validator and joining the staking pool. The transition of the PoW model to the PoS model enables its users to begin staking with 0.1 ETH using the Ethermine staking service, offering users to make the best out of their stakes.