Ethereum 2.0: How It Would Affect Crypto Mining

Ethereum 2.0: How It Would Affect Crypto Mining

Ethereum aka ETH 2.0 is sought to fundamentally change the present economics. But there is more to it. This update can completely erase the mining concept.

Does it mean that your ETH miner should get retired once Ethereum 2.0 is in its final phase?


The answer is, Yes!

With the Beacon Chain getting live in the first stage of next-generation Ethereum 2.0, the concept of revolutionary PoS (point-of-stake) network came into action. As a result, the network will now be abandoning the PoW (proof-of-work) model. And this leaves the ETH miners with a few choices.


As the update will enter into its final Phase 2, the PoW model would become obsolete. Hence, ETH miners will either be forced to start mining for alternative crypto currency or become ETH stakers.

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