In the recently-concluded Ethereum Community Conference (EthCC), the co-founder of Ethereum, Vitalik Buterin, acknowledged that not everyone welcomes the proof-of-stake concept or appreciates Ethereum's transition to PoS.
While Buterin thinks the upcoming PoS changes to Ethereum are worth it, he recommended the Ethereum Classic blockchain for anyone who likes Ethereum. Among other PoW chains, Buterin shilled the ETC blockchain as the “original Ethereum, which did not betray the vision by forking the DAO.”
“If you love proof-of-work, you should go use Ethereum Classic. It’s a totally fine chain.” - Vitalik Buterin.
In the coming months, Ethereum core developers will begin the final phase of the blockchain’s transition from proof-of-work (PoW) to proof-of-stake (PoW) consensus mechanism.
On July 14th, the team shared an announcement that provided a more detailed timeline for the launch. Per the timeline, Ethereum 2.0 is expected to launch in mid-September if the antecedent updates are successful.
The launch of Ethereum 2.0 would conclude the role of cryptocurrency miners on the blockchain, meaning new coins won’t be generated through miners. Instead, users would be required to stake a certain amount of ETH for a chance to be selected to validate blocks of transactions for rewards.