Ethereum founder Vitalik Buterin said on Tuesday that the Ethereum merge is on target to happen "around" September 13 to September 15. That's when the world’s second largest cryptocurrency will jettison its energy-intensive proof-of-work consensus mechanism.
How will that shift affect Bitcoin, which still stands alone atop the crypto market and still uses proof of work?
Shifting sands
The merge is only the latest Ethereum blockchain upgrade aimed at creating a reliable decentralized ecosystem for the future of finance. In addition to alleviating energy concerns, the shift to proof of stake brings additional benefits.
In proof of stake, block transactions are verified by validators that have staked a number of their tokens. The more tokens an individual has associated with the blockchain, the higher probability they have of being randomly chosen as a network validator.
This differs from proof of work, which is an energy-intensive process that relies on computers to solve mathematical...
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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...