What is the difficulty bomb in Ethereum and how does it affect the cryptocurrency?

1 answers

• Jan 13, 2022 · 3 years ago
  The difficulty bomb in Ethereum is an intentional increase in mining difficulty that was introduced to incentivize the Ethereum community to move towards the Proof of Stake consensus algorithm. This transition aims to make the network more energy-efficient and scalable. The difficulty bomb impacts miners by making it harder for them to mine new blocks and earn rewards. It also affects the network as a whole by slowing down block production and increasing transaction fees. However, it is important to note that the difficulty bomb can be delayed or even removed through network upgrades. Ethereum developers have the ability to adjust the difficulty bomb to ensure a smooth transition to Proof of Stake.
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