This will be an important week for the crypto market.
On Thursday, Ethereum system upgrade called “Consolidation” will happen, moving one of the largest and most important blockchains in the world from its current proof-of-work setup to a proof-of-stake model. The technical shift raises numerous questions, including what kind of precedent it sets for rival blockchains that are sticking to their proof-of-work guns.
Consolidation is often discussed in the context of anticipated changes to Ethereum’s environmental weight – proof-of-stake does not require the same level of computational input, meaning the blockchain will not need to control a pool Bitcoin is like the computer that keeps its network running. Good.
But if you’re hoping that more from the upgrade, stay tuned. Other extras can go a bit further.
The exchange explores startups, markets and money.
Read it every morning on TechCrunch + or get Exchange Newsletter every Saturday.
Read through analyst, investor and founder views we gathered last week regarding the expectations for the upcoming Merge changed my view on the event. Given how long the Merge has been going on, you can expect it to infiltrate and unlink every part of the Ethereum blockchain. It will not.
