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What the Merge Means for Ethereum Miners
Where will Ethereum’s miners go when you can’t mine on Ethereum any more? That’s the $19 billion question. If all goes according to plan, the so-called Merge will take place in late September, completing Ethereum’s transition from the proof-of-work (PoW) consensus mechanism to a Beacon proof-of-stake (PoS) blockchain. This long-awaited event will force the network's mining industry, which research firm Messari estimates is worth $19 billion, to find other ways to make money. Pioneered by Bitcoin, mining is the process of verifying transactions and racing to solve complicated math problems for the right to ... (full story)