Ethereum Proof of Work Nedir

Ethereum is moving to Proof of Stake completely by December 2021, which means ETH proof of work mining will become obsolete .

With Ethereum 2.0, Ethereum will finally move to PoS, but its relatively conventional sibling Ethereum Classic has no plans of following suit . With this update, the two cryptos will thus add another major point of departure to the existing list of ideological differences.

Ethereum, like Bitcoin, currently uses a consensus protocol called Proof-of-work (PoW) .

Instead, both Bitcoin and Ethereum, the two largest cryptocurrencies, rely on a consensus mechanism called “proof of work ” to maintain a time-ordered ledger of transactions. Crypto miners are at the core of that process.

Ethereum’s use cases are vast and expanding fast , offering blockchain projects enhanced efficiency, security, and decentralized equity to industries across the globe.

Ethereum will move from proof-of-work to proof-of-stake this summer , Vitalik Buterin has confirmed. The ETH 2.0 ‘Merge’ upgrade promises to cut transaction fees, increase coins ‘burned’ and improve congestion.