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When Will ETH Change its Mining Mode (ETH Mining Rules)

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When will ETH change its mining mode? The forked project of Ethereum, ETH, is c

When Will ETH Change its Mining Mode (ETH Mining Rules)

When will ETH change its mining mode? The forked project of Ethereum, ETH, is considering changing its mining mode. The current block height of ETH is 12,888. This network has not undergone any upgrades since 2016. Now, many developers have proposed a new consensus mechanism called Proof-of-Stake (PoS) or a similar mechanism to encourage honest mining participants.

However, as the Ethereum community becomes increasingly interested in changing this “proof-of-stake” technology and inflation reward mechanism, some people have started questioning whether a new algorithm should be adopted to maintain its current proof-of-work system (POS). But from a recent report, we can see that although this solution has not been widely accepted yet, it could become a more secure and stable method to address these challenges (Trustnodes).

ETH Mining Rules

According to the news from ethnews, updates on Ethereum mining rules have been published on GitHub. According to the information on the website: “ETH mining rules (EIP):

1. A certain amount of new ETH tokens need to be provided as a reward for mining each block.

2. When each new minted block contains 100 new ETH, a portion of new issuers will enter the system and distribute their rewards. These funds will be used for staking, voting, or paying verification fees before future upgrades.”

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