In this week’s newsletter: Ethereum turning off its mining rigs and slashing the currency’s carbon emissions should be good news. But not everyone agrees
On 15 September, the ethereum blockchain is planning to switch off its mining rigs. If it happens, it should reduce the carbon emissions of the entire ethereum ecosystem by orders of magnitude overnight, leaving bitcoin as the only major cryptocurrency to be built on the destructive proof-of-work concept. But the switchover could also throw some of the largest institutions in the sector into chaos, and seems likely to evolve into a cold war between the new version of ethereum and the diehard followers of the old. And that’s if it happens at all.
A brief refresher on cryptocurrencies. The two biggest in the world, ethereum and bitcoin, are based on an idea called proof of work. This – and I’m simplifying – involves the networks outsourcing their security to a decentralised network of miners, who compete to burn ludicrous amounts of...
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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...