ETH and ETH 2.0 - Proof of Work vs Proof of Stake

NFTs Made Simple

Aug 9 2022 • 21 mins

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

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This show is for entertainment purposes only and should not be considered investment or financial advice. Do your research!