by Divyanshi Tomar 
At the end of this year, Ethereum is all set to launch Ethereum 2.0 with the up-gradation of the proof-of-stake model. At the present time, Ethereum works on the proof-of-work consensus algorithm. The industry undergoes many transitions due to this new invention.
The current system of Ethereum is based on the PoW (similar to the Bitcoin system). The mining process of both of them is similar. But a huge difference came up in using the units for cryptocurrency mining. Bitcoin is using ASICs unit (large, loud machines) while Ethereum is designed to support GPU units(chips).
These GPU chips are more reliable, cheaper, and accessible than ASICs. Other advantages of using GPU units for mining are: It is more flexible in the mining of the cryptocurrency. Example: Most popular Nvidia GeForce GTX 1080 Ti card has the ability to mine 15 different currencies while ASIC stuck at one currency.
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The network security is more advanced in ASICs.therefore the GPU owner has a mixed reaction towards ASICs.If they thought of owning ASICs, they start suffering from the loss of profits. In April 2008, Bitmain released the Antminer E3, an ASIC produced specifically for mining Ethereum. Some Ethereum users start criticizing this Bitmain’s model.
There is a new invention of “programmatic proof-of-work,” or ProgPoW an extension of the current Ethereum algorithm, Ethash, designed to make GPUs more competitive, thereby promoting decentralization.
according to reports of march paper, it is confirmed that 40% of Ethereum’s hash rate is generated by Bitmain ASICs and for the Ethereum network GPU mining is dominant. Presently, Ethereum is not gaining high profits and also came to an end in October. In the later 2020, Ethereum is launched in the form of the Ethereum 2.0 upgrade model.
In the case of PoS, miners are virtual and referred to as “block validators”.The main principle of this is, More coins PoS validators choose to stake is directly proportional to the number of coins in reward. This concludes that the future of Ethereum 2.0 is still unclear.
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The Ethereum miners use the hybrid model consists of both PoW and PoS. While it takes time for the miners to shift from ETH1 to ETH2. Once Ethereum 2.0 is launched, miners will have two options. One is to sell the equipment and use that money to accumulate more ETH and start staking, while the other option, which is available exclusively for GPU miners, is to simply switch over to other Ethash networks and mine altcoins.
There is one Ethereum altcoin that has no such plans to accept PoS, Ethereum Classic (ETC), a more conservative version of the blockchain. Others also comment that Ethereum 2.0 is successful it not. It is not able to predict. But, for sure there is not any disruption between PoW chains and DApps because ETH 2 is a new network that will run on a new token and a new inflation model. It concludes that this system is designed to have a compatible nature with the Ethereum ecosystem.
