Introduction

On 15th September 2022, the Ethereum blockchain successfully switched from proof-of-work (PoW) to proof-of-stake (PoS) consensus. This resulted in a shift from Ethereum mining to Ethereum staking which put the Ethereum’s miners response at the center of attention.

This dashboard investigates whether the miners continued to contribute to the blockchain as validators or they quit the chain.

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Analysis

The graph below shows the daily number of active miners over time.

All miners with at least one block verification in the day is defined as active miners.

We can see that the number of daily active miners has been relatively constant since one and a half year ago. However on the merge date the number of miners sparked.

The graph below shows the daily number of new miners over time.

New miner is defined as miners who verified their first block.

We can see that in the past months, very few number of addresses has started operating as a miner. In the day after the merge more than 450 new miners started working.

The graph next to this box shows the hourly number of new addresses joined miners after the merge.

In this dashboard block 15537393 is considered as the merge block. The analysis broken down into before this block and after.

We can see that daily active miners has been increased since the merge.

The graph shows the hourly active users.

Graphs below show the number of blocks verified by miners before and after the merge. The period is for past 30 days.

We can see that a few number of miners verified considerable share of blocks. Top 10 miners verified almost 77% before and 72% after the merged.

Since the address of miners has been changed we cannot keep track of miners directly using addresses.

For this purpose miners addresses who are connected to after the merge addresses through Ethereum transfer is considered as sustained miners.

Our assumption is that the old miner who want to continuer mining on new setting should transferred assets to the new miner wallet address.

It is found that out of 75 miners who have been active since 30 days ago, only 7 of them have sent eth to the new miner addresses.

Conclusion

The merge resulted in switching from PoW to PoS. In this process the old miners is not useful. Except those who changed their addresses.

The data shows that the number of new users had been decreased in the past months approaching the Eth merge. Only seven addresses have sent ETH to the new addresses.