Ethereum, the most popular crypto platform, appears to have successfully upgraded its software architecture from a type of blockchain known as "proof of work," which it has run since its inception in 2015, to a type of blockchain known as "proof of stake."
This upgrade, which came to be called, simply, "the merge," is already being heralded as a watershed moment in the history of crypto.
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I'm not so sure it will.
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Ethereum used to be secured by a network of high-powered computers that competed against each other to solve cryptographic puzzles, burning vast amounts of energy in the process.Now, it will be secured by a process known as "staking," which involves investors agreeing to deposit their crypto coins in a shared pool in exchange for a chance to earn financial rewards.
There are other benefits to the merge - it's expected to make Ethereum faster and more efficient in the long run - but the environmental footprint is the big, immediate improvement.
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The merge doesn't address any of that.
#people #years #united-states #environment #potentially #researchers #successfully #governments #participants #improvement
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