Ethereum (ETH) Moving To Proof of Stake (POS) What this could mean?

in #ethereum • 7 years ago

Ethereum's roadmap released earlier this year unveiled the ultimate goal of switching from Proof of Work to Proof of Stake.
https://cointelegraph.com/news/ethereums-2017-roadmap-flexibility-pow-to-pos-improving-ecosystem
The goal of this change is to increase network efficiency and made the currency more viable. However, what does this mean for mining? Well mining will be gone so where will all the power be dedicated too now?

Vitalik-Buterin-Confirms-Proof-of-Stake-For-Ethereum-is-75-Complete-n6frpzg4xqg95k0mpxd3iasyuigvejo51gem4ju97u.jpg

With the current proof of work system scalability is an issue. As the network receives an influx of transaction the consistency of new nodes seems to die. It also seems that the complexity of ethereum's network and the capability to run untrusted code is a problem. Not to mention all the ICO's on the ETH platform.

Will Proof of Stake solve these problems for the average user? How will miners deal with this?

POSwallet is ahead of the game on this change and is ready for ETH to move to POS already. Will you be ready? Also, what does this mean for ETH's price?

#eth #bitcoin #pos #mining
7 years ago in #ethereum by
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