—Read Here— Ethereum’s planned transition from its traditional proof-of-work network to the proof-of-stake ETH 2.0 network may be coming quicker than expected.
PC Gamer reports that it may be happening in the “coming months.”
“Ethereum will be completing the transition to Proof-of-Stake in the upcoming months,” Carl Beekhuizen, Ethereum Foundation, says in a blog post, “which brings a myriad of improvements that have been theorized for years. But now that the Beacon chain has been running for a few months, we can actually dig into the numbers. One area that we’re excited to explore involves new energy-use estimates, as we end the process of expending a country’s worth of energy on consensus.”
This news doesn’t bode well for miners but will be very beneficial to people with large sums of Ether as the new system will mine new Ether coins through simply owning and staking them on the POS network.
TechPowerup reports that the transition will likely take place by year’s end.
Myriad Media 