NYC Web3: TLDR
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NYC Web3: TLDR

POW Miners Won’t Go Quietly

With The Merge on its’ way, there are a group of users who are wondering how they will survive this event: Ethereum POW miners. Currently, POW (proof of work) miners make quite a bit of ETH with their powerful crypto-solving machines. However, The Merge will introduce POS (proof of stake) where node operators will be required to deposit 32 ETH in order to be eligible to become network validators. This will inevitably decrease the amount of incoming transaction fees that miners have been enjoying thus far. Coinbase has responded to these outcries and will investigate possibly creating a fork in order for POW miners to keep plying their trade.

Say what?! So because efficiencies and improvements are reducing the amount of income for miners, a fork of Ethereum is the best solution?? What about the dwindling profession of coal mining? Their jobs have been reduced decade over decade due to advancements in renewable energy sources. Should society push for a new way to use coal so their industry can flourish again? It’s time for POW miners to see the inevitable here. Can’t just force an “outdated” and power-hungry method of validation to continue for a lame reason like that…

Written by: nikethereum.eth / Medium / Mirror

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