An army of computer programmers scattered across the globe is set to attempt one of the biggest software upgrades the crypto sector has ever seen this week to reduce its environmentally unfriendly energy consumption.
Developers have spent years working on a more energy-efficient version of the Ethereum blockchain, a digital ledger that underpins a multibillion-dollar ecosystem of cryptocurrencies, digital tokens (NFTs), games and apps.
Ethereum, the second most important blockchain after Bitcoin, burns through more power each year than New Zealand.
Experts say the changeover, expected to take place between Tuesday and Thursday, would slash energy consumption by more than 99 percent.
Enthusiasts hope a greener Ethereum will spur wider adoption, particularly as a way of enabling banks to automate transactions and other processes.
But so far the technology has been used largely to create speculative financial products.
The ING Bank said in a recent note the switchover might help...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...