Cryptocurrency coin, Ethereum blockchain, has completed a major software upgrade aimed at reducing its Energy.
Co-founder and Ethereum inventor, Vitalik Buterin, made the disclosure in a tweet on Thursday.
The upgrade, known as the “Merge”, will change how transactions on the Ethereum blockchain occur and how ether tokens, the second-largest crypto coin after bitcoin, are created.
Under the change, Ethereum will move from a “proof of work” system, in which energy-hungry computers validate transactions by solving complex maths problems, to a “proof of stake” system, where individuals and companies act as validators, using their ether as collateral, to win newly created tokens.
Tags: ethereum
