Cryptocurrency Q&A
Why does Ethereum want to change from Proof of Work?
Why does Ethereum want to change from Proof of Work?
EclipseSeeker
Wed Jan 01 2025
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7 answers
1206
Ethereum wants to change from Proof of Work due to several reasons. Primarily, Proof of Work consensus mechanism requires intensive computational power, which leads to high energy consumption. Additionally, as Ethereum grows, the scalability issues associated with Proof of Work become more apparent, affecting transaction speed and efficiency. By shifting to a different consensus mechanism, Ethereum aims to improve its scalability, efficiency, and environmental impact.
7 answers
KDramaLegendaryStar
Fri Jan 03 2025
Scalability has emerged as a significant concern for the Ethereum network.
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GeishaWhisper
Fri Jan 03 2025
The proof-of-work (PoW) consensus mechanism utilized by Ethereum imposed limitations on its throughput and speed.
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SamuraiWarriorSoul
Fri Jan 03 2025
Miners were required to find new blocks and nodes, a process that consumed considerable time and resources.
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lucas_lewis_inventor
Thu Jan 02 2025
Prior to transitioning to proof-of-stake, Ethereum's transaction capacity stood at approximately 15 transactions per second (TPS).
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Andrea
Thu Jan 02 2025
This TPS rate was inadequate in addressing the escalating demand for decentralized applications (dApps) and DeFi services.
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