Eth Merge

Ethereum is changing: moving from proof of work to proof of stake. But what does this mean to ordinary users? Here's what you need to know.

The move to proof of stake will add deflationary pressure to the cryptocurrency. Over time, it is possible that more ETH is burned than is issued on a yearly basis, but the merge alone will not make this happen. This combined with a drop in the issuance rate will add deflationary pressure to the cryptocurrency—but it won’t automatically make it deflationary. With proof of work, the total amount of miners are rewarded ~13,000 Ethereum per day. “You are giving your stake to someone else, who may decide to attack with that stake,” he said. Validators can be anyone with at least 32 ETH available to “stake,” or pledge, to the network. “ It is doable by anyone with a sufficiently good computer, electricity, and internet,” he said. “It hurts the network rather than helping, and the return on investment at the moment probably isn't worth it.” Right now, the cryptocurrency’s network uses the same consensus network as [Bitcoin](/resources/what-is-bitcoin-four-minute-instant-guide-explainer): proof of work. But this isn’t true—at least not yet, anyway, according to the Ethereum Foundation and experts who spoke to Decrypt. The long-awaited upgrade to the second biggest cryptocurrency by market cap is expected to take place tonight, based on [current estimates](https://ultrasound.money/). [proof of stake](https://decrypt.co/resources/proof-of-work-vs-proof-of-stake).

The bitcoin maximalist, executive chairman of MicroStrategy and recently alleged tax evader says the Bitcoin network's output is 100 times greater in cost ...

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Circle, the issuer of USDC — the largest dollar-backed stablecoin issued on Ethereum blockchain with a market capitalization of more than $45 billion — ...

When Ethereum Classic and Ethereum went through a hard fork — a foundational event that triggers a crypto protocol to splinter into two or more blockchains — in 2016, developers for both parties were reluctant to alter their respective identification mechanisms. DeFi projects employing USDC for collateral, as such, ought to have virtually zero value on the PoW chain. “With its staking yields, it will generate an infinitely scalable, long-term source of revenue for digital asset institutions, lenders and exchanges.” “Uniswap doesn’t require oracles,” Aggarwal said. “The exact time will be announced 1 hour before launch with a countdown timer and everything including final code, binaries, config files, nodes info, RPC, explorer, etc. [preparing to fork](https://twitter.com/EthereumPoW/status/1569427804764405761) the protocol recently [tweeted](https://twitter.com/EthereumPoW/status/1569428021437935617?s=20) “ETHW mainnet will happen within 24 hours after the Merge.”