The final steps required to finally merge the Ethereum network, which will end GPU mining is near.
A new test network has been formally opened, which has the role of testing how everything works and correcting potential problems that may arise when switching from Proof-of-Work (POW) to Proof-of-Stake (POS) concept.
Essentially, this means that players will no longer have to compete with graphics card miners, as they will no longer be needed to maintain a blockchain network.
This year was incredibly favorable for all those who mined Ethereum – CoinMarketCap shows an increase in price from about $730 on January 1, 2021, to about $4,100 at the time of writing.
In addition, the popularity of the NFT concept further pushed the Ethereum hash rate, so miners had their hands full.
The beginning of the end for the miners, the modernization of the network for everyone else
The transition to the Proof-of-Stake model will no longer rely on miners to maintain the integrity of the Ethereum blockchain, although this transition has been moved from the end of 2021 to the first half of 2022.
The aforementioned transition known as the Great Merger(Ethereum 2.0) will be done by the Ethereum Foundation, otherwise responsible for the maintenance and all major changes to this network.
With the opening of the test network, the development team behind the Ethereum Foundation announced that the test network serves so that everyone who uses the Ethereum blockchain can try and get acquainted with the work of the network after the merger.
Once the feedback is incorporated into the client software and specifications, the final test network will be launched.
After all the updates are done and stability is checked, the main Ethereum network will start the transition to the Proof-of-Stake model.
Basically, clients will switch from the existing POW to the POS concept, to determine the validity of the last Ethereum block, but all other functionalities, EVM (Ethereum virtual machines), and the way transactions are executed will remain the same.
After the merger, currently, Eth1 and Eth2 clients become the executive level and the consensus level of the Ethereum blockchain.
The Ethereum Foundation has shared the various tasks that need to be done to get the main network ready for the Great Merger.
Of course, that means there is still a lot of work to do, so miners don’t need to panic yet, but it seems that we are getting closer to the day when enthusiasts and gamers will no longer have to compete with Ethereum miners to buy graphics cards from resellers.