4 crypto-currency tokens benefit from merger, ETC secures most of the hashrate by leaving ETH

The candidates for proof of work (PoW) at the time 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 the reality shows that ethereum classic has been the main beneficiary of the hashrate so far.

A Twitter poll with over 10,000 votes picks 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, the ETC hashrate peaked on September 8, 2022. 53.29 terahash per second (TH/s).

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

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

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

With the imminent #PoS $ETH merge, I’m curious what all the #miners out there are planning on moving their rigs to.

Top #PoW contenders seem to be $RVN $FLUX $ERG & $ETC. Are you going with one of these or choosing something else?

Let me know 👇🏻

– Cryptovium (@cryptovium) August 20, 2022

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

Ethereum classic had the lowest number of votes, at 4.9% of the 10,347 votes. Despite being in last place in the poll, ETC managed to become the main beneficiary of Ethereum’s hashrate exit.

ETC’s hashrate continues to break records and has done so at least five times in the past two weeks. RVN, FLUX, and ERG have seen small spikes in hashrate, but nothing like what has happened in the last 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 hashrate has dropped by 18.77% to 22.71 TH/s. On September 5, Ravencoin’s 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, Flux’s hashrate was 1.98 MS/s and it has increased 55.55% to 3.08 MS/s in the last six days.

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

In terms of price, FLUX has gained 33.1% in the past seven days, ERGO is up 48.1% this week, and RVN has jumped 54% in the past seven days. In terms of last week’s gains, ETC had the smallest gain, with the token up 19% over the past week.