Ethereum: Could ‘the merge’ finally end mining?

The world’s second-largest cryptocurrency is getting a blockchain underpinning upgrade.

There’s a merge going on with Ethereum caused by two majors aspects: the existing chain and a new one (relatively).

Ethereum’s merge is “an attempt to switch from a proof-of-work model to proof-of-stake.”

Today, Ethereum relies on proof-of-work. In the proof-of-work, miners must complete complicated puzzles to validate financial transactions on the blockchain.

The process requires a vast amount of power, and critics say it brings a negative environmental impact.

With the next upgrade to proof-of-stake, users will validate the transactions according to the number of coins they contribute.

For staking more coins, all users have a higher probability to validate transactions in the network and earn more coins or rewards.

Ethereum runs parallel proof-of-work and proof-of-stake. Both options have…

Read more at www.marca.com

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