| whatisbitcoinmi's Forum Info |
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| Additional Info About whatisbitcoinmi |
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| Bio: |
Core — which is one of the largest providers of blockchain infrastructure and hosting, as well as one of the largest digital asset miners, in North America — isn't alone in its struggles. Only 1 megabyte of transaction data can fit into a single Bitcoin block. The 1MB limit was set by the creators. This limit has become controversial because some miners believe the block size should increase to accommodate more data, which would effectively mean that the Bitcoin network could process and verify transactions more quickly. To ensure miners do their job, each miner has to stake 32 ether coins, which is equivalent to $47,000, hence the term for this protocol: proof of stake. This change should reduce the amount of energy needed for ethereum mining by 99.95%. Ethereum is set to transition to the new protocol on Sept. 19, but that date is not final. |
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