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Will Mining Die with Ethereum 2.0?

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Will Mining Die with Ethereum 2.0?

Will Mining Die with Ethereum 2.0?  

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The Ethereum Merge is the transition from proof-of-work consensus mechanisms to a proof-of-stake version.  

The Ethereum Merge is the transition from proof-of-work consensus mechanisms to a proof-of-stake version.  

Photo Credit:   cointelegraph.com

Transitioning to proof of work would influence the Ethereum mining market, which is worth $19 billion 

Transitioning to proof of work would influence the Ethereum mining market, which is worth $19 billion 

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There are two ways out for miners; by mining various other altcoins similar to Ethereum Classic, or by mining the suggested ethereum fork 

There are two ways out for miners; by mining various other altcoins similar to Ethereum Classic, or by mining the suggested ethereum fork 

Photo Credit:  pixelbay.com

In current weeks, Ethereum Classic's cost has risen due to its mining demand 

In current weeks, Ethereum Classic's cost has risen due to its mining demand 

Photo Credit:  pixelbay.com

There are, however, some downsides. If Ethereum miners count on ETC or GPU-compatible altcoins..... 

There are, however, some downsides. If Ethereum miners count on ETC or GPU-compatible altcoins..... 

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it will bring about a decrease in productivity of the current miners 

it will bring about a decrease in productivity of the current miners 

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Guo and also other designers suggested a hard fork that would certainly retain the proof-of-work mining design 

Guo and also other designers suggested a hard fork that would certainly retain the proof-of-work mining design 

Photo Credit:  pixelbay.com

A difficult fork is a radical upgrade to a blockchain that permanently alters its performance 

A difficult fork is a radical upgrade to a blockchain that permanently alters its performance 

Photo Credit:  pixelbay.com

Guo tweeted in July 2022: "ethpow will certainly coming soon." It looks like the hard fork is readied to take place after the Ethereum Merge 

Guo tweeted in July 2022: "ethpow will certainly coming soon." It looks like the hard fork is readied to take place after the Ethereum Merge 

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Everything You Wanted to Know about Cryptocurrency, Before Invest

Everything You Wanted to Know about Cryptocurrency, Before Invest

References:-1. investopedia.com2. pixelbay.com

References:-1. investopedia.com2. pixelbay.com

Photo Credit:  pixelbay.com