Bye-Bye, Miners! How Ethereum’s Big Change Will Work
- Date: 15-Dec-2021
- Source: Washington Post
- Sector:Financial Markets
- Country:Middle East
Bye-Bye, Miners! How Ethereum’s Big Change Will Work
Ethereum is making big changes. Perhaps the most important is the jettisoning of the “miners” who track and validate transactions on the world’s most-used blockchain network. Miners are the heart of a system known as proof of work that was pioneered by Bitcoin and adopted by Ethereum, the platform that supports Ether, the runner-up to Bitcoin as the world’s most valuable cryptocurrency. Proof of work has come under increasing criticism for its environmental impact: Bitcoin miners now use as much