}
However, Once Ethereum merges with the Ethereum 2.0 Beacon Chain, mining on the network will become obsolete. For miners, there will be no block subsidies, no transaction fees and certainly no miner extractable value . (MEV) Revenue from transaction fees and MEV will instead be awarded to users who contribute to network security by staking their coin holdings in increments of 32 ETH.
In particular, the number of tokenized bitcoin created on Ethereum has been on a steady rise since the start of this year. As of Tuesday, there are more than 250,000 tokens backed by BTC, collectively worth roughly $8.6 billion at the time of writing and representing about 1.2% of total bitcoin supply.
Moreover, While there are several protocols issuing bitcoin-backed stablecoins, the most popular one, responsible for over three-quarters of BTC supply on Ethereum, is called Wrapped Bitcoin.
Folks these users, also called “validator node operators,” will most consistently be rewarded on Ethereum in the form of interest on their staked ether. For validator node operators actively running software on Eth 2.0 today, their estimated annual percentage return (APR) for a single 32 ETH deposit is between 6% and 7%.
Truth be told there is “Basically, the current EIP is not a huge reduction to rewards. A huge reduction was from five to three ether. A huge reduction was from three to two ether.
Mr brain Lee the ethereum crypto investor said “So I’m thinking maybe I’ll switch to [mining] Ethereum Classic,” Lee said during a phone interview with CoinDesk according to source. “There’s a ton of coins out there. I think a lot of guys I talked to are thinking about going to Ravencoin after Ethereum merges.
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