This is good news for ETH miners, who will have a little more time before the consensus shifts.
Now it’s right: the Ethereum (ETH) team will implement, in December of this year, an update that prevents mining in the current way. However, it will only come into operation in June 2022.
Among the main arguments for the exchange of consensus, the very high energy consumption of mining companies and the centralization of processing power (hashrate) of the network in the hands of a few groups stand out.
today x tomorrow
Currently, Ethereum performs mining through Proof-Of-Work (PoW), the same consensus mechanism used by Bitcoin. In this model, transactions are approved through high-performance machines, dedicated to validating information on the network. In this way, the network remains fast and secure.
Soon, Ethereum will change its consensus mechanism to Proof-Of-Stake (PoS): in this model, there are no miners, but individual transaction validators. For that, it is necessary to have a specific amount of coins in a wallet. The reward for validating transactions on the network varies depending on the number of tokens stored.
With 32 ETH (approximately R$798,000 at the current price) deposited in an intelligent contract, it will be possible to create a transaction validation node (node).
The developers intend to use the “difficulty bomb” to end PoW mining: in short, a change will be made to the current code to make mining incredibly difficult, until it becomes impossible to do.
The consensus change is one of the most anticipated changes in Ethereum 2.0, an update that the community has been waiting for for many years. There is still no exact release date for the big update – just the consensus exchange.
There are currently around 100,000 PoS validators in the new Ethereum network. However, it is not yet possible to move funds.