The method used to obtain Ether, the ETH digital currency, is called Ethereum mining. To obtain Ether on the Ethereum blockchain, it is obtained by making transactions in accordance with a unique algorithm called Ethash.
You don’t have to use ASIC, i.e. special circuits, as with Bitcoin, to mine Ethereum. Even a standard Windows user can easily mine Ethereum. However, it is important to note that you need a lot of GPU power when mining Ethereum. Since Ethereum mining is a process with extremely high dynamics, you will need high GPU power. It is recommended that 64-bit Windows 10 users use a graphics card with at least 4 GB of memory. But even that may not be enough. For the powerful GPU, graphics cards of 8 GB and above will be needed. With the transition of Ethereum 2.0, Proof-of-Work will be replaced by Proof-of-Stake (Pos). Of course, this transition will not be made all at once, but gradually and will be spread over years. The production of new blocks with Pos and the verification of blocks will be provided not by the mining process that requires energy consumption, but by the ETH that investors lock into the system. The incentive mechanism will also be operated with rewards for locked ETHs. Since there is no mining process that requires energy consumption, the PoS system is considered to be much more environmentally friendly. Ethereum 2.0 will affect not only Ethereum but also the crypto money markets as a whole. The vast majority of current cryptocurrency projects still on the market are located on Ethereum. Therefore, capacity and speed increase in Ethereum is of great importance for all of them.
So much so that for a transfer of 100 USDT on the ERC-20network, users often have to pay a transfer fee of 60
USDT. Although this number has recently dropped to around 20 USDT, the fact that commission rates are still seriously high does not change. However, the high amount of commissions passing through Ethereum’s network and the fact that it will be minimized with the transition to 2.0 will be the closing of an era and the opening of a new era for Ethereum.
With the ETH 2.0 process, mining will not be done with video cards as it is now, but by staking the ETH in hand, which will allow people who want to earn ETH to lock their ETH into the system without touching it. This will allow us to expect a serious rise in the price as it will allow those who want to mine Ethereum to hold ETH.
