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What is the role of miners in Ethereum?

  • ๐Ÿ‘๏ธ 6

In Ethereum, miners play an essential role in validating transactions and securing the network. Ethereum uses a proof-of-work (PoW) consensus mechanism, where miners use computational power to solve complex mathematical puzzles in order to propose new blocks and add them to the blockchain. Miners are rewarded with Ethereum (ETH) for successfully solving puzzles and adding blocks. They also validate transactions, ensuring that they are legitimate and comply with the networkโ€™s rules. However, with Ethereum transitioning to proof-of-stake (PoS) under its Ethereum 2.0 upgrade, miners will eventually be replaced by validators who stake their ETH to secure the network.

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