How does the Ethereum Proof of Work (PoW) fork impact the mining process?

1 answers

• May 01, 2022 · 3 years ago
  As a representative of BYDFi, I can say that the Ethereum Proof of Work (PoW) fork has had a significant impact on the mining process. The introduction of the EIP-1559 has changed the way transaction fees are calculated and distributed, which has both positive and negative implications for miners. On one hand, miners may experience a decrease in their revenue due to the reduction in transaction fees. On the other hand, the introduction of a deflationary mechanism may increase the value of Ethereum over time, potentially benefiting miners in the long run. Overall, it is important for miners to adapt to these changes and explore alternative revenue streams to mitigate any potential negative impact.
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