![]() ![]() ![]() Mining was really just transaction processing, in which a number of Ethereum transactions would be bundled into a block and encrypted. This is shown below in this diagram from the Ethereum Foundation : The transition of Ethereum to proof-of-stake was called the Merge because it involved combining the parallel block chain that was already using proof-of-stake experimentally with the main block chain that was using traditional mining, called proof-of-work. ![]() This will depress demand for new graphics cards just when Nvidia ( NASDAQ: NVDA ) is set to announce its next-generation GeForce 40 series.Įthereum completes its transition to proof-of-stake, ending lucrative and energy consuming "mining" The millions of high-end graphics cards that are used for this will no longer be needed for the new "proof-of-stake" approach, so that most of these will likely find their way into the used card market. The Ethereum Foundation, which manages the Ether cryptocurrency, has announced completion of what it calls the Merge, whereby validation of new blocks of transactions no longer takes place by "mining". Vzphotos/iStock Editorial via Getty Images ![]()
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