Home
News
Highly anticipated upgrade on Ethereum network, The Merge is around the corner.
Ever since the notion of Ethereum network transition from proof-of-work to proof-of-stakes came out, it remained perhaps the most awaited upgrade. Now, this major upgrade on Ethereum network – The Merge – is scheduled to launch by 19 September 2022. Amongst numerous advantages and features after The Merge, change in way of Ethereum mining is expected to be one of the effective changes.
For everyone who understands crypto mining, they can relate with this issue, especially when it comes to proof-of-work consensus mechanism. PoW was the first such mechanism introduced along with the launch of the first ever cryptocurrency Bitcoin. Since Ethereum is very much a reflection of bitcoin, it has a similar system. Initially it was not a problem but as these networks grew up the consensus mechanism turned out to be a highly energy intensive one.
Due to the energy consumption and environmental threats of PoW, it started facing criticism worldwide. This is, however, not the only problem with this mechanism. It is a time taking process by nature and requires ‘proof’ of work done. Bitcoin miners started using high computing power producing mining systems and Etheureum had to follow along.
Also Read: Ifancythat – shop your favorite retail, travel, and leisure brands with crypto
However, Ethereum mining is comparatively less power and time consuming. Still it needed intensive GPUs to mine ETH. After the transition of the first smart contract blockchain network, this issue would be resolved to a large extent.
The availability of GPUs or intensive graphic cards often remained short given their maximum deployment for cryptocurrency mining, in which ETH mining had the most portion. This scenario is much more likely to change now.
Developer Ben Edington from Ethereum considered this event of The Merge, as conjecture point. Here all the node operators would need to bring an upgrade in their own operations itself to stay relevant within the new model. This indicates that after the upgrade, there will not be much need for heavy energy using GPUs. This will end up saving both energy and the environment.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
