Ethereum upgrade could reduce miner revenues by 35%

The London hard fork, together with significant changes to the Ethereum blockchain network, may reduce mining profitability

digital currency. The innovations have caused controversy among cryptocurrency miners, as they will radically change the principle of commission formation, which will affect income.

We wrote about the main innovations of London in one of thetoday's notes. It mentioned that the key proposal involves burning commissions regardless of the amount. As a result, the miners' reward will be equal to the reward for each block found. Yes, users will be able to leave a "tip", but this will not greatly affect the situation.

Experts believe that income will ultimatelywill be reduced by about 35%. However, one should not expect a sharp drop. For the foreseeable future, old-style transactions are not going anywhere, as the transition will proceed in a planned manner.

London hard fork should grow in popularityETH payments as transfer fees will become clearer and more predictable for users. At the same time, the transition to the Ethereum 2.0 protocol will make it unnecessary to mine "ether" on video cards. Recall that now the mining of cryptocurrency using the GeForce RTX 3060 Ti brings a little more than $ 4 per day.