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Recent news on ethereum

recent news on ethereum

Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web news with analysis, video and live price updates. The latest breaking news, comment and features from The Independent. Bitcoin and Ethereum remain stuck in a range with no clear direction during today's trading session. The crypto market's uncertainty has been smashing on long. CRYPTO MONSTER DELUXE

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Recent news on ethereum gnt cryptocurrency price

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Picture massive warehouses lined with rows of computers stacked on top of one another like shelves of books at a university library — each computer hot to the touch as it strains to pump out cryptocurrency. This is terrible. I can't believe that you do this for a living.

Ethereum introduced a proof-of-stake network in called the Beacon Chain, but until the Merge it was just a staging area for validators to get set up for the switch. It's like running Google Chrome or running Netflix. Obviously, your MacBook plugs into the wall and uses electricity to run. But no one thinks about the environmental impact of running Slack, right?

New incentives Rather than a single piece of open-source software, the Ethereum network is better understood as a nation-state — a kind of living organism that comes together when a bunch of computers talk to one another in the same language, all following an identical set of rules. In proof-of-stake, the amount of ETH one stakes — not the amount of energy one expends — dictates control over the network. Under PoS, this requirement for brute computing power is removed- instead of mining, network consensus is achieved through staking.

While huge farms of ultra-powerful computers owned by huge companies are used to validate PoW networks, PoS can pretty much be done on your shoddy old Dell. Staking requires you to put some skin in the game in the form of a large quantity of the cryptocurrency in question.

In basic terms, PoS has just replaced the need for expensive computer farms with the need for a massive stack of coins, thus the big players tend to be the winners regardless. So why bother changing at all? The trilemma Blockchain technology has a problem. Take Binance Chain. Is it scalable? Is it decentralised? Hell no: Only 21 entities, handpicked by Binance itself, are maintaining the network, compared to over 10, for Bitcoin.

As for Ethereum, is it decentralised? Solana is among the fastest blockchains, but there are security concerns — Source: explorer. Not only has network congestion caused blackouts in the past, but slow transaction speeds and high transaction costs are severely limiting what developers can do on the ecosystem.

That is why Ethereum is about to switch to PoS. So PoS is more scalable? Err… not quite. Yes, there could be some incremental improvements, but true network scalability will not come till next year… Or maybe even later. Beyond The Merge After the hopefully successful switch to PoS in the coming weeks, the next big item on the Ethereum bucket list is to implement sharding technology.

Sharding is a common feature in computer systems that splits a network into smaller, more manageable chunks called… you guessed it- shards. For Ethereum, this will entail lightening the load by performing some transactional functions off of the blockchain. Without getting too bogged down in the details, what you should know is this will be when Ethereum truly becomes scalable.

QuarkChain made a great analogy with a multi-lane highway: "The advantage of a multi-lane highway is that the time needed for a huge amount of traffic to pass through is lesser than that of passing through a single-lane highway. What will happen to my ETH? Unless you are currently a validator, nothing. The Ethereum Foundation has assured holders that your funds and wallet will not be impacted Proactive, however, cannot vouch for this, so do your own research into the situation first.

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