With the Merge finally completed, Ethereum is now running as a Proof-of-Stake (PoS) network. However, its transition from a Proof-of-Work (PoW) system has been highly controversial. Supporters of PoW mining feared that staking would centralize the network and threaten its independence. Those fighting for a PoS network touted the scalability and precision that would arise…
Ethereum (ETH) Foundation has confirmed that the mainnet migration to a proof-of-stake network will be triggered at a Terminal Total Difficulty (TTD) of 58750000000000000000000, scheduled to happen between Sept. 10 to Sept. 20. According to the Aug. 24 blog post, the first step towards the migration is the Bellatrix upgrade scheduled for 11:34 UTC on…
Swan Bitcoin founder Brandon Quittem said that Ethereum (ETH) co-founder Vitalik Buterin does not “deeply” understand the Proof-of-Work (PoW) consensus mechanism. 1/ I said “Vitalik never understood PoW deeply” I don’t know if I’m right or wrong, but here are some examples of @VitalikButerin misunderstanding PoW 🧵👇 https://t.co/Uo1oZolpVU — Brandon Quittem (@Bquittem) August 15, 2022…
Sam Bankman-Fried (SBF), the CEO and founder of leading crypto exchange FTX, said in a recent interview with the Financial Times that he does not think Bitcoin has a future as a payment network. SBF continued that the environmental impact of Bitcoin mining, alongside the fact that the coin is “inefficient,” would count against it…
The Kiln testnet was launched on the 10:th of March, and developers have now successfully completed a transition from the proof-of-work consensus mechanism to the looming proof-of-stake mechanism that the real Ethereum mainnet will merge to sometime this year. With Kiln being the final testnet, there seem to be no major obstacles for the developers…