RATE Group | The proposed 80% cut in Ethereum mining reward is good news for gamers and the planet
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The proposed 80% cut in Ethereum mining reward is good news for gamers and the planet

25 Apr The proposed 80% cut in Ethereum mining reward is good news for gamers and the planet

Posted at 16:37h in Ethereum News by

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Dave James

Cryptocurrency mining

The developers of Ethereum have published a proposal for the next update to their GPU-friendly cryptocurrency, which will start to move it away from its current reliance on our gaming graphics cards. Part of this proposal will cut the block reward of mining Ethereum from 3 ETH down to 0.6 ETH per block mined.

Check out our pick of the best graphics cards you can actually buy today.

The new Hybrid Casper update proposal, published April 20, is designed to shift the cryptocurrency away from the inherent problems associated with the current way it’s being mined, and is part of the transition from a proof-of-work consensus to a final proof-of-stake model. The proposed hybrid will use a combination of both models to ease the transition, but also to ensure the altcoin doesn’t suffer the same ASIC dominance that’s now running (ruining?) Bitcoin, and to ease the massive energy demands of the GPU mining farms.

With Bitmain controlling 50%…

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