Vitaly Buterin said when Ethereum can no longer be mined

The creator of the second most capitalized cryptocurrency Ethereum Vitalik Buterin told when the blockchain will switch to the Proof-of-Stake algorithm.
Vitaly Buterin said when Ethereum can no longer be mined

The transition of Ethereum network to Proof-of-Stake consensus algorithm will take place in August 2022, the blockchain creator Vitaly Buterin said during the summit in Shanghai. If problems arise, the update could be pushed back to September or October, journalist Willie Wu wrote.

Ethereum now runs on the Proof-of-Work algorithm, so it needs miners generating processing power to keep the network running. In the case of Proof-of-Stake, the network is maintained by token holders and is rewarded for doing so. This is called staking. Information from site crypto​defix.com.

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Ethereum Most flexible cryptocurrency, which ranks second most popular and the most revolutionary one in the world.
Most flexible cryptocurrency, which ranks second most popular and the most revolutionary one in the world.

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