The upcoming proof of rights network will eliminate Ethereum miners, but it doesn't mean they will leave.

Like Bitcoin, the current mining of Ethereum needs a lot of energy to protect the network security and create and distribute a new digital currency. There are also many miners in Ethereum all over the world, and it is also necessary to buy expensive mining machines to solve calculation problems and earn ETH, the native cryptocurrency of Ethereum network. However, if all goes well, Ethereum will undergo a major upgrade in 2022, fundamentally changing the way the network operates and ETH tokens are created-in other words, mining in Ethereum will become a thing of the past.

So, for the miners who are mining on the blockchain of Ethereum now, where will they go in the future?

Ethereum blockchain was officially launched in 2015. Like Bitcoin, Ethereum blockchain uses the same workload proof consensus agreement. In short, workload proves to be a way to ensure that computers agree on transactions and database status at any given time. Under this consensus mechanism, the network can be protected from potential double spending or multiple spending attacks.

Although workload proved to be an encryption algorithm, Ethereum Foundation explained, "Mining itself is' workload', that is, an act of adding effective blocks to the blockchain. Of course, the workload of using a lot of computing power proves that the algorithm will consume a lot of electricity, which has become the main reason for environmental organizations to attack cryptocurrencies.

Frankly speaking, the core developers of Ethereum have been committed to changing the network consensus protocol from Proof of Workload (PoW) to Proof of Equity (PoS). The new consensus mechanism only needs to consume a small amount of electricity to maintain the network operation, and at the same time, it can continue to support larger-scale transactions. The upgraded Ethereum network is called Ethereum 2.0 (ETH 2.0), and the network security will be maintained by pledging ETH tokens to ensure that attacks can be effectively stopped, because once bad actors commit attacks, their pledged tokens will be seized.