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Crypto mining is approaching a key inflection point


Warren Rogers

Warren Rogers is CFO at Blockware Solutions, a former venture capitalist and founder, and a blockchain maximalist.

The crypto mining space is approaching a key inflection point. There are currently two dominant proof of work-based coins, Bitcoin and Ethereum. Bitcoin’s consensus rules are immutable and historically have not been able to be altered by some of the largest exchanges and miners in the space.
Ethereum is constantly changing, and the biggest change could come as soon as Q2 2022.
What does ETH 2.0 mean for crypto miners?
Ethereum is expected to transition from a proof of work-based consensus protocol to proof of stake (PoS), which means that graphics card miners will no longer be useful for adding blocks to the Ethereum blockchain.
However, the Ethereum community has been discussing this transition since 2016, and it continuously gets pushed back. During the Ethereum Core Devs Meeting #124 on October 15, a proposal to push the December 2021 “difficulty bomb” was discussed.

Given the specialized nature of Ethereum mining, it would be our be …

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