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The Ethereum merge is bringing an incredible shift in its consensus. Every user must take the steps to protect their $ETH and private keys.<\/p>\n\n\n\n

• The Ethereum merge<\/a> is an important event happening on September 15, 2022. Many crypto traders are keen on transitioning from the Ethereum Proof-of-Work (PoW) consensus to the Proof-of-Stake consensus mechanism, as it reduces the use of special hardware and power consumption.<\/li><\/ul>\n\n\n\n
  • The CEO of PolySwarm, Steve Bassi<\/a>, explained<\/a> that staking is a newer and exciting concept in cryptocurrency compared to the traditional PoW consensus used by Bitcoin and various other tokens.<\/li><\/ul>\n\n\n\n
    • He added that to become an independent validator during the Ethereum merge event, a trader must hold 32 ETH in their digital wallets before joining a staking pool and earning passive income. However, Bassi warned users that the merge will enable scammers to trick them into submitting their private keys<\/a> to get ahold of their wallets.<\/li><\/ul>\n\n\n\n
      • Bassi warns that scammers could use fake airdrops<\/a> to redirect crypto users to phishing sites. These sites could claim they own firsthand information regarding the Ethereum merge. As a result, users could lose their Ethereum or give up their private keys. He urged users to be highly alert and not follow topics like \u201cETH2\u201d or \u201cETH 2.0 coin.\u201d<\/li><\/ul>\n\n\n\n
        • Staking pools is no news in Decentralized Finance<\/a> (Defi) platforms. However, it comes with risks especially depositing your crypto assets and giving up control of them. With ETH bringing new staking protocols, users must be aware of staking pool providers who may offer attractive terms. They could pull the rug<\/a> and run off with your valuable assets.<\/li><\/ul>\n\n\n\n

          See Related:<\/em><\/strong> The Misconceptions With The Ethereum Merge<\/a><\/p>\n","post_title":"Ethereum Merge Event: Protect Yourself from Scammers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-event-protect-yourself-from-scammers","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/defi\/","post_modified":"2023-04-11 00:03:59","post_modified_gmt":"2023-04-10 14:03:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7121","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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          Research

          Ether, An Ultrasound Money – Ethereum Data And Statistics

          January 2, 2023 - Updated on April 10, 2023

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          November 24, 2024

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          \n

          See Related:<\/em><\/strong> Cryptocurrency Mining<\/a><\/p>\n","post_title":"Ethereum Merge Renders GPU Miners Inactive","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-renders-gpu-miners-inactive","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/proof-of-stake\/","post_modified":"2023-04-10 18:55:13","post_modified_gmt":"2023-04-10 08:55:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7171","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7121,"post_author":"7","post_date":"2022-09-14 17:43:47","post_date_gmt":"2022-09-14 07:43:47","post_content":"\n

          The Ethereum merge is bringing an incredible shift in its consensus. Every user must take the steps to protect their $ETH and private keys.<\/p>\n\n\n\n

          • The Ethereum merge<\/a> is an important event happening on September 15, 2022. Many crypto traders are keen on transitioning from the Ethereum Proof-of-Work (PoW) consensus to the Proof-of-Stake consensus mechanism, as it reduces the use of special hardware and power consumption.<\/li><\/ul>\n\n\n\n
            • The CEO of PolySwarm, Steve Bassi<\/a>, explained<\/a> that staking is a newer and exciting concept in cryptocurrency compared to the traditional PoW consensus used by Bitcoin and various other tokens.<\/li><\/ul>\n\n\n\n
              • He added that to become an independent validator during the Ethereum merge event, a trader must hold 32 ETH in their digital wallets before joining a staking pool and earning passive income. However, Bassi warned users that the merge will enable scammers to trick them into submitting their private keys<\/a> to get ahold of their wallets.<\/li><\/ul>\n\n\n\n
                • Bassi warns that scammers could use fake airdrops<\/a> to redirect crypto users to phishing sites. These sites could claim they own firsthand information regarding the Ethereum merge. As a result, users could lose their Ethereum or give up their private keys. He urged users to be highly alert and not follow topics like \u201cETH2\u201d or \u201cETH 2.0 coin.\u201d<\/li><\/ul>\n\n\n\n
                  • Staking pools is no news in Decentralized Finance<\/a> (Defi) platforms. However, it comes with risks especially depositing your crypto assets and giving up control of them. With ETH bringing new staking protocols, users must be aware of staking pool providers who may offer attractive terms. They could pull the rug<\/a> and run off with your valuable assets.<\/li><\/ul>\n\n\n\n

                    See Related:<\/em><\/strong> The Misconceptions With The Ethereum Merge<\/a><\/p>\n","post_title":"Ethereum Merge Event: Protect Yourself from Scammers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-event-protect-yourself-from-scammers","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/defi\/","post_modified":"2023-04-11 00:03:59","post_modified_gmt":"2023-04-10 14:03:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7121","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                    Research

                    Ether, An Ultrasound Money – Ethereum Data And Statistics

                    January 2, 2023 - Updated on April 10, 2023

                    Artificial Intelligence

                    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                    December 19, 2024

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                    November 24, 2024

                    Artificial Intelligence

                    Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                    November 24, 2024

                    Subscribe To Our Newsletter

                    By subscribing, you agree with our privacy and terms.

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                    >

                    Follow The Distributed

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                    ADVERTISEMENT
                    \n
                    • In the end, the block rewards earned by GPU miners on PoW consensus mechanisms are not enough. Operating state-of-the-art mining hardware and the ever-increasing energy costs is no longer enough to turn a profit. The future is quite gloomy for ETH miners.<\/li><\/ul>\n\n\n\n

                      See Related:<\/em><\/strong> Cryptocurrency Mining<\/a><\/p>\n","post_title":"Ethereum Merge Renders GPU Miners Inactive","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-renders-gpu-miners-inactive","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/proof-of-stake\/","post_modified":"2023-04-10 18:55:13","post_modified_gmt":"2023-04-10 08:55:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7171","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7121,"post_author":"7","post_date":"2022-09-14 17:43:47","post_date_gmt":"2022-09-14 07:43:47","post_content":"\n

                      The Ethereum merge is bringing an incredible shift in its consensus. Every user must take the steps to protect their $ETH and private keys.<\/p>\n\n\n\n

                      • The Ethereum merge<\/a> is an important event happening on September 15, 2022. Many crypto traders are keen on transitioning from the Ethereum Proof-of-Work (PoW) consensus to the Proof-of-Stake consensus mechanism, as it reduces the use of special hardware and power consumption.<\/li><\/ul>\n\n\n\n
                        • The CEO of PolySwarm, Steve Bassi<\/a>, explained<\/a> that staking is a newer and exciting concept in cryptocurrency compared to the traditional PoW consensus used by Bitcoin and various other tokens.<\/li><\/ul>\n\n\n\n
                          • He added that to become an independent validator during the Ethereum merge event, a trader must hold 32 ETH in their digital wallets before joining a staking pool and earning passive income. However, Bassi warned users that the merge will enable scammers to trick them into submitting their private keys<\/a> to get ahold of their wallets.<\/li><\/ul>\n\n\n\n
                            • Bassi warns that scammers could use fake airdrops<\/a> to redirect crypto users to phishing sites. These sites could claim they own firsthand information regarding the Ethereum merge. As a result, users could lose their Ethereum or give up their private keys. He urged users to be highly alert and not follow topics like \u201cETH2\u201d or \u201cETH 2.0 coin.\u201d<\/li><\/ul>\n\n\n\n
                              • Staking pools is no news in Decentralized Finance<\/a> (Defi) platforms. However, it comes with risks especially depositing your crypto assets and giving up control of them. With ETH bringing new staking protocols, users must be aware of staking pool providers who may offer attractive terms. They could pull the rug<\/a> and run off with your valuable assets.<\/li><\/ul>\n\n\n\n

                                See Related:<\/em><\/strong> The Misconceptions With The Ethereum Merge<\/a><\/p>\n","post_title":"Ethereum Merge Event: Protect Yourself from Scammers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-event-protect-yourself-from-scammers","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/defi\/","post_modified":"2023-04-11 00:03:59","post_modified_gmt":"2023-04-10 14:03:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7121","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                                Most Read

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                                Ether, An Ultrasound Money – Ethereum Data And Statistics

                                January 2, 2023 - Updated on April 10, 2023

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                                Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                December 19, 2024

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                                November 24, 2024

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                                Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                November 24, 2024

                                Subscribe To Our Newsletter

                                By subscribing, you agree with our privacy and terms.

                                Type your email here

                                >

                                Follow The Distributed

                                Twitter Instagram Youtube LinkedIn Facebook RSS

                                

                                ADVERTISEMENT
                                \n
                                • There is growing competition between miners with smaller potential rewards. According to Minerstat<\/a>, the Ethereum Classic block rewards fell from 58 cents to a bit above 1 cent within 24 hours. Also, Raven coin network, RVN block rewards fell from $1.77 to about 4 cents within the same period.<\/li><\/ul>\n\n\n\n
                                  • In the end, the block rewards earned by GPU miners on PoW consensus mechanisms are not enough. Operating state-of-the-art mining hardware and the ever-increasing energy costs is no longer enough to turn a profit. The future is quite gloomy for ETH miners.<\/li><\/ul>\n\n\n\n

                                    See Related:<\/em><\/strong> Cryptocurrency Mining<\/a><\/p>\n","post_title":"Ethereum Merge Renders GPU Miners Inactive","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-renders-gpu-miners-inactive","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/proof-of-stake\/","post_modified":"2023-04-10 18:55:13","post_modified_gmt":"2023-04-10 08:55:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7171","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7121,"post_author":"7","post_date":"2022-09-14 17:43:47","post_date_gmt":"2022-09-14 07:43:47","post_content":"\n

                                    The Ethereum merge is bringing an incredible shift in its consensus. Every user must take the steps to protect their $ETH and private keys.<\/p>\n\n\n\n

                                    • The Ethereum merge<\/a> is an important event happening on September 15, 2022. Many crypto traders are keen on transitioning from the Ethereum Proof-of-Work (PoW) consensus to the Proof-of-Stake consensus mechanism, as it reduces the use of special hardware and power consumption.<\/li><\/ul>\n\n\n\n
                                      • The CEO of PolySwarm, Steve Bassi<\/a>, explained<\/a> that staking is a newer and exciting concept in cryptocurrency compared to the traditional PoW consensus used by Bitcoin and various other tokens.<\/li><\/ul>\n\n\n\n
                                        • He added that to become an independent validator during the Ethereum merge event, a trader must hold 32 ETH in their digital wallets before joining a staking pool and earning passive income. However, Bassi warned users that the merge will enable scammers to trick them into submitting their private keys<\/a> to get ahold of their wallets.<\/li><\/ul>\n\n\n\n
                                          • Bassi warns that scammers could use fake airdrops<\/a> to redirect crypto users to phishing sites. These sites could claim they own firsthand information regarding the Ethereum merge. As a result, users could lose their Ethereum or give up their private keys. He urged users to be highly alert and not follow topics like \u201cETH2\u201d or \u201cETH 2.0 coin.\u201d<\/li><\/ul>\n\n\n\n
                                            • Staking pools is no news in Decentralized Finance<\/a> (Defi) platforms. However, it comes with risks especially depositing your crypto assets and giving up control of them. With ETH bringing new staking protocols, users must be aware of staking pool providers who may offer attractive terms. They could pull the rug<\/a> and run off with your valuable assets.<\/li><\/ul>\n\n\n\n

                                              See Related:<\/em><\/strong> The Misconceptions With The Ethereum Merge<\/a><\/p>\n","post_title":"Ethereum Merge Event: Protect Yourself from Scammers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-event-protect-yourself-from-scammers","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/defi\/","post_modified":"2023-04-11 00:03:59","post_modified_gmt":"2023-04-10 14:03:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7121","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                                              Most Read

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                                              Ether, An Ultrasound Money – Ethereum Data And Statistics

                                              January 2, 2023 - Updated on April 10, 2023

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                                              Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                              December 19, 2024

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                                              November 24, 2024

                                              Subscribe To Our Newsletter

                                              By subscribing, you agree with our privacy and terms.

                                              Type your email here

                                              >

                                              Follow The Distributed

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                                              ADVERTISEMENT
                                              \n
                                              • The chief mining officer at Bitfarms, Ben Gagnon, tweeted<\/a> that GPU mining is dead. He added that the remaining coins showing profit in Proof-of-Work consensus have no market cap or liquidity.<\/li><\/ul>\n\n\n\n
                                                • There is growing competition between miners with smaller potential rewards. According to Minerstat<\/a>, the Ethereum Classic block rewards fell from 58 cents to a bit above 1 cent within 24 hours. Also, Raven coin network, RVN block rewards fell from $1.77 to about 4 cents within the same period.<\/li><\/ul>\n\n\n\n
                                                  • In the end, the block rewards earned by GPU miners on PoW consensus mechanisms are not enough. Operating state-of-the-art mining hardware and the ever-increasing energy costs is no longer enough to turn a profit. The future is quite gloomy for ETH miners.<\/li><\/ul>\n\n\n\n

                                                    See Related:<\/em><\/strong> Cryptocurrency Mining<\/a><\/p>\n","post_title":"Ethereum Merge Renders GPU Miners Inactive","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-renders-gpu-miners-inactive","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/proof-of-stake\/","post_modified":"2023-04-10 18:55:13","post_modified_gmt":"2023-04-10 08:55:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7171","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7121,"post_author":"7","post_date":"2022-09-14 17:43:47","post_date_gmt":"2022-09-14 07:43:47","post_content":"\n

                                                    The Ethereum merge is bringing an incredible shift in its consensus. Every user must take the steps to protect their $ETH and private keys.<\/p>\n\n\n\n

                                                    • The Ethereum merge<\/a> is an important event happening on September 15, 2022. Many crypto traders are keen on transitioning from the Ethereum Proof-of-Work (PoW) consensus to the Proof-of-Stake consensus mechanism, as it reduces the use of special hardware and power consumption.<\/li><\/ul>\n\n\n\n
                                                      • The CEO of PolySwarm, Steve Bassi<\/a>, explained<\/a> that staking is a newer and exciting concept in cryptocurrency compared to the traditional PoW consensus used by Bitcoin and various other tokens.<\/li><\/ul>\n\n\n\n
                                                        • He added that to become an independent validator during the Ethereum merge event, a trader must hold 32 ETH in their digital wallets before joining a staking pool and earning passive income. However, Bassi warned users that the merge will enable scammers to trick them into submitting their private keys<\/a> to get ahold of their wallets.<\/li><\/ul>\n\n\n\n
                                                          • Bassi warns that scammers could use fake airdrops<\/a> to redirect crypto users to phishing sites. These sites could claim they own firsthand information regarding the Ethereum merge. As a result, users could lose their Ethereum or give up their private keys. He urged users to be highly alert and not follow topics like \u201cETH2\u201d or \u201cETH 2.0 coin.\u201d<\/li><\/ul>\n\n\n\n
                                                            • Staking pools is no news in Decentralized Finance<\/a> (Defi) platforms. However, it comes with risks especially depositing your crypto assets and giving up control of them. With ETH bringing new staking protocols, users must be aware of staking pool providers who may offer attractive terms. They could pull the rug<\/a> and run off with your valuable assets.<\/li><\/ul>\n\n\n\n

                                                              See Related:<\/em><\/strong> The Misconceptions With The Ethereum Merge<\/a><\/p>\n","post_title":"Ethereum Merge Event: Protect Yourself from Scammers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereum-merge-event-protect-yourself-from-scammers","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/defi\/","post_modified":"2023-04-11 00:03:59","post_modified_gmt":"2023-04-10 14:03:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7121","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                                                              Most Read

                                                              Research

                                                              Ether, An Ultrasound Money – Ethereum Data And Statistics

                                                              January 2, 2023 - Updated on April 10, 2023

                                                              Artificial Intelligence

                                                              Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                                              December 19, 2024

                                                              Artificial Intelligence

                                                              Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

                                                              August 15, 2024

                                                              Banking

                                                              Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

                                                              November 24, 2024

                                                              Artificial Intelligence

                                                              Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                              November 24, 2024

                                                              Subscribe To Our Newsletter

                                                              By subscribing, you agree with our privacy and terms.

                                                              Type your email here

                                                              >

                                                              Follow The Distributed

                                                              Twitter Instagram Youtube LinkedIn Facebook RSS

                                                              

                                                              ADVERTISEMENT
                                                              \n