What is proof-of-work in Ethereum?

Proof-of-work is the mechanism that allows the decentralized Ethereum network to come to consensus, or agree on things like account balances and the order of transactions . This prevents users from “double spending” their coins and ensures that the Ethereum chain is tremendously difficult to attack or manipulate.

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Is proof-of-stake secure?

However, it is easily understandable that proof-of-stake is more secure and less resource-intensive than proof-of-work, but some drawbacks still need further attention. Although a PoS blockchain has never been hacked, individual nodes have been attacked.

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Will ETH 2.0 increase price?

Coinpedia predicts an even higher price of $12,962.33 in 2022 if Ethereum’s upcoming transition to Ethereum 2.0 is successful . The new upgrades could potentially make Ethereum more affordable for users to mint and develop products, as right now the service fees to use Ethereum are notoriously high.

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