What is the EthereumMerge ? We explain for you here: Forex Crypto ETH USD
Similar to the Bitcoin blockchain, Ethereum currently implements a ‘proof-of-work’ model, in which an extensive network of nodes all compete to solve complex mathematical problems. Network members that solve these problems are rewarded with the ability to mine part of an Ethereum transaction, creating new coins, and accruing a fee.
Although this airdrop is not guaranteed, a snapshot will be taken prior to the merge, and those who hold ETH may be eligible to earn free tokens.If you’re already holding ETH tokens, you will automatically be eligible for the PoW airdrop next week, provided your tokens have been transferred to a hardware wallet or an exchange that supports a proof-of-work fork.or Binance. In that case, your ETH tokens are better stored in a hardware wallet to ensure eligibility requirements are met.
As of January 2022, the Ethereum Foundation stopped referring to the upgrade as ETH2 to avoid confusion. To clarify: ETH1 is the ‘execution layer’ which manages transactions and data, and ETH2 is the ‘consensus’ layer that ensures all devices using the network adhere to its rules. If miners migrate their machines to similar chains, the hash rate on those chains may balloon, decreasing the overall revenue for mining other PoW coins, thus pushing many miners currently using those chains out of business.Within the crypto community, there is also talk of creating a fork, i.e., a blockchain split that allows miners to continue a parallel proof-of-work chain to protect their income.
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