4 Cryptocurrency Tokens Benefit from Merger, ETC Secures Most of the Hashrate Leaving ETH

Proof-of-work (PoW) candidates then were ravencoin, ergo, flux, and ethereum classic tokens. At the end of the poll, flux and ravencoin topped the pack in terms of votes, but reality shows that ethereum classic has been the biggest hashrate beneficiary so far.

Twitter poll with over 10,000 votes chooses Flux, while Ethereum Classic ends up reaping the benefits of the merger.

Ethereum Classic collects most of the hashrate leaving Ethereum with only three days left before the merger. According to metrics recorded by 2miners.com, ETC’s hashrate peaked on September 8, 2022. 53.29 terahash per second (TH/s).

Ethereum hashrate has dropped below 900 TH/s and as of this writing the network hashrate is at 1.5%. 883.78 TH/s.

On August 20, 2022, the Cryptovium Twitter account posted a poll that asks miners where they will dedicate their hashpower when The Merge is implemented.

With the PoS ETH Merge imminent, I’m curious to know what all the miners are planning to move their devices to“, Cryptovium said. “The main contenders for PoW status seem to be RVN, FLUX, ERG, [and] ETC. Are you going to choose one of these products or something else?

Cryptovium’s final poll results got 10,347 votes and Flux (FLUX) received the most votes with 45.7%. The second most popular token with survey participants is ravencoin (RVN) with 27.3% of the votes, and ergo (ERGO) captured 22.1% of the poll votes.

4 tokens in cryptocurrencies reap the power of the merger, ETC secures most of the exchange rate leaving ETH.

Ethereum classic received the lowest number of votes at 4.9% of 10,347 votes. Despite taking last place in the poll, ETC managed to become the biggest beneficiary of Ethereum’s hashrate release.

4 cryptocurrency tokens reap merger power, ETC secures most exchange rate leaving ETH.

ETC’s hashrate continues to break records and has done so at least five times in the past two weeks. RVN, FLUX, and ERG saw small spikes in hashrate, but nothing like what happened in the past few weeks.

Ergo’s hashrate jumped 99.14% from 14.04 TH/s on September 2 to 27.96 TH/s on September 4. Since then, Ergo’s hash rate has dropped by 18.77% to 22.71 TH/s. On September 5, Ravencoin hashrate was 2.42 TH/s and since then it has increased by 70.24% to 4.12 TH/s.

Flux uses a solution called sol and performance is measured in sol per second. On September 3, the hashrate of Flux was 1.98 MS/s and it has increased by 55.55% to 3.08 MS/s over the past six days.

However, Flux’s hash rate has dropped back to 2.28 MS/s. Although Flux was the winner of the poll posted on Twitter, it was the loser in reality when it came to acquiring the hashrate.

In terms of price, FLUX has gained 33.1% over the past seven days, ERGO is up 48.1% this week, and RVN has jumped 54% over the past seven days. When it comes to gains over the past week, ETC saw the smallest upside, with the token up 19% over the past week.

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