Status check: Ethereum in full deflation mode as Eth2 merge gets closer

Status check: Ethereum in full deflation mode as Eth2 merge gets closer
© Reuters.

The Ethereum community has been hard at work over the past few years, laying the foundation for its shift away from its current proof-of-work (PoW) algorithm which has formed the backbone of the blockchain’s operation up until today.

Ethereum’s switch to its proof-of-stake- (PoS-) powered Ethereum 2.0 chain is edging closer to reality, with recent updates to its blockchain resulting in the issuance of Ether (ETH) becoming deflationary.

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