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Ethereum is making big changes. Perhaps the most important is the jettisoning of the “miners” who track and validate transactions on the the world’s most-used blockchain network. Miners are the heart of a system known as proof of work. It was pioneered by Bitcoin and adopted by Ethereum, and has come under increasing criticism for its environmental impact: Bitcoin miners now use as much electricity as some small nations. Along with being greener and faster, proponents say the switch, now planned ....
Explainer: How ethereum's big overhaul will work techcentral.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcentral.co.za Daily Mail and Mail on Sunday newspapers.
Ethereum Closes in on Long-Sought Fix to Cut Energy Use Over 99 Percent Ethereum and Bitcoin both operate using a proof-of-work system that requires a global network of computers running around the clock. By Matthew Leising, Bloomberg | Updated: 25 May 2021 13:17 IST Highlights The transition Ethereum developers are making is a huge undertaking Proof of work uses the capital costs of buying and maintaining hardware Users and developers of the world s most-used blockchain have been wrangling with its carbon-footprint problem for as long as it s been around. Now, they say, several recent breakthroughs will finally enable them to drastically cut energy use in a year or less. ....
Ethereum poised to dramatically cut the amount of energy it uses Can the cryptocurrency overthrow Bitcoin? Analysts say it’s possible 05/24/2021 Photo (c) jpgfactory - Getty ImagesThere’s a possible game-changing shift afoot in the cryptocurrency world. Supporters of Ethereum currently the number two digital currency behind Bitcoin claim that a breakthrough in its structure could reduce its current 45,000-gigawatt usage to 1/10,000th of that level. Energy is not an aspect of cryptocurrency that’s been talked about much, but it’s a crucial element. By design, it takes vast amounts of energy to keep systems related to cryptocurrency running. That’s because everything is computer-based, and if the integrity of a cryptocoin’s blockchain isn’t kept secure, the coin’s functionality could implode. ....
Ethereum closes in on long-sought fix to cut energy use over 99% Matthew Leising, Bloomberg News Vitalik Buterin, co-founder of Ethereum Foundation and Bitcoin Magazine, speaks during the TechCrunch Disrupt 2017 in San Francisco, California, U.S., on Monday, Sept. 18, 2017. TechCrunch Disrupt, the world s leading authority in debuting revolutionary startups, gathers the brightest entrepreneurs, investors, hackers, and tech fans for on-stage interviews. Photographer: David Paul Morris/Bloomberg , Bloomberg Users and developers of the worldâs most-used blockchain have been wrangling with its carbon-footprint problem for as long as itâs been around. Now, they say, several recent breakthroughs will finally enable them to drastically cut energy use in a year or less. ....