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Evolving at scale is key to cryptocurrency’s long-term prospects.
The world’s second-largest cryptocurrency, Ethereum, last week transformed the fundamental architecture governing how it secures its blockchain — an unprecedented demonstration of established crypto platforms’ ability to evolve to changing conditions.
The event, known as “the Merge,” was five years in the making. A few hours after midnight on Thursday, Ethereum shifted its blockchain from a configuration called “proof of work” — also used by Bitcoin — to one called “proof of stake.” Matt Nelson, a product manager at the Ethereum research and development firm ConsenSys, compared it to changing the engine in a car while driving it down the road.
The move to the new style of blockchain will reduce Ethereum’s energy use by 99.95 percent, according to the Ethereum Foundation. That’s significant in an industry that is so energy-intensive the White House warned this month that the growth...
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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...