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ETH and ETH 2.0 - Proof of Work vs Proof of Stake
Manage episode 337158673 series 3318552
Ethereum is evolving. This September, they’re gonna transition from proof-of-work and will merge with the Beacon Chain proof-of-stake system.
The massive shift - or The Merge as they call it - will reduce their energy consumption for environmental-friendly mining without affecting previous transactions in the blockchain. That means your funds or wallet will be completely fine.
With an upgrade that considers real-world impacts, Ethereum is taking a new direction for cryptocurrency’s promising and less harmful future.
Resources
Learn more about The Merge here: https://bit.ly/3JzeHFR
Chapters
0:00 Introduction
1:12 What makes this merge important?
4:05 Proof of work and proof of stake
5:28 What is proof of stake?
7:19 Environmental impacts
8:24 Ethereum’s history
9:26 Is this a good time to purchase?
12:22 Staking Ethereum
14:47 Addressing misconceptions on Ethereum
18:16 The positive effects of the Merge
18:49 Key takeaways
Get your FREE NFT Cheatsheet
👉 www.nftsmadesimple.com 👈
This show is for entertainment purposes only and should not be considered investment or financial advice. Do your research!
47 episodes
Manage episode 337158673 series 3318552
Ethereum is evolving. This September, they’re gonna transition from proof-of-work and will merge with the Beacon Chain proof-of-stake system.
The massive shift - or The Merge as they call it - will reduce their energy consumption for environmental-friendly mining without affecting previous transactions in the blockchain. That means your funds or wallet will be completely fine.
With an upgrade that considers real-world impacts, Ethereum is taking a new direction for cryptocurrency’s promising and less harmful future.
Resources
Learn more about The Merge here: https://bit.ly/3JzeHFR
Chapters
0:00 Introduction
1:12 What makes this merge important?
4:05 Proof of work and proof of stake
5:28 What is proof of stake?
7:19 Environmental impacts
8:24 Ethereum’s history
9:26 Is this a good time to purchase?
12:22 Staking Ethereum
14:47 Addressing misconceptions on Ethereum
18:16 The positive effects of the Merge
18:49 Key takeaways
Get your FREE NFT Cheatsheet
👉 www.nftsmadesimple.com 👈
This show is for entertainment purposes only and should not be considered investment or financial advice. Do your research!
47 episodes
All episodes
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