October 4, 2022

Developers say that moving away from a proof-of-work (PoW) system will make the network much cheaper, faster and environmentally friendly. It will also mark the end of an income stream for Ethereum miners, who are rewarded with ether (ETH) tokens for providing resources to the blockchain. Miners produced more than $620 million worth of ether in July alone, clues showmaking The Merge look like death for a significant chunk of cash.

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