Proof of stake

The U.S. Securities and Exchange Commission (SEC) is investigating the Ethereum Foundation and companies doing business with the nonprofit, according to a new report from Fortune Wednesday. And that’s very bad news for crypto enthusiasts who were hopeful that spot Ether ETFs, which would make it easier for investors to invest in the cryptocurrency without holding it personally, would be approved by regulators soon.The Biggest Crypto Heists of 2022…So FarThe news comes after CoinDesk first noticed on Wednesday that the…

Staking for Success: A Guide to Earning Passive Income through Proof-of-Stake As the cryptocurrency landscape continues to evolve, investors are increasingly exploring avenues to earn passive income beyond traditional methods. Proof-of-Stake (PoS) emerges as a compelling option, allowing individuals to contribute to blockchain networks and be rewarded with passive income in the form of staking rewards. In this comprehensive guide, we delve into the world of PoS and provide insights on how to earn passive…

Ethereum mining rigs.Photo: Lauren DeCicca (Getty Images)In September, the Ethereum cryptocurrency network managed to pull off what it had been promising todo for years: switch to a model of mining that is far less emissions-intensive than the standard, a move known as the Merge. Did the switch do anything for the currency’s emissions? Could it be a good solution to the huge climate issues plaguing crypto?The preliminary answer, according to a peer-reviewed opinion paper published Tuesday in the journal Patterns, is,…

In a historic regulatory step, New York has become the first U.S. state to bar certain types of cryptocurrency mining. Governor Kathy Hochul signed a bill on Tuesday that triggers an immediate moratorium on energy-intensive “proof-of-work” crypto mining powered by fossil fuels. For two years, no new permits for such mining operations will be issued and no existing permits will be renewed, according to the law (A7389C).The bill cites the heavy climate and infrastructure costs of crypto mining in its reasoning. On top of…

Photo: Drew Angerer (Getty Images)In a letter sent to the Electric Reliability Council of Texas, AKA ERCOT, Sen. Elizabeth Warren and her fellow congressional Democrats ask how the Texas electrical grid is subsidizing crypto mining groups when they subsidize their companies during peak demand.During the summer, when Texas temperatures rose over 100 degrees, ERCOT asked major companies, including bitcoin mining operations, to shut down operations when electricity use spiked. The Texas Blockchain Council, an association…

File photo of Ethereum co-founder Vitalik Buterin speaking at ETHDenver on February 18, 2022 in Denver, Colorado.Photo: Michael Ciaglo (Getty Images)The Ethereum network, which powers the second largest cryptocurrency in the world, completed a long-planned upgrade known as “The Merge” early Thursday, moving from a proof-of-work system to a proof of stake system. And nothing catastrophic has happened yet, despite plenty of dark predictions by an army of short-sellers.02:49Guess How Much Crypto's Been Stolen Lately? Part…

A machine for mining ether on display at a crypto convention in Thailand.Photo: Lauren DeCicca (Getty Images)If you type the phrase “the Merge” into Google today, you’ll be treated with a countdown: It’s coming in a little over two days, as of this writing. The countdown is ticking off the time until one of the biggest shifts the crypto world has ever seen. The Merge refers to the transition of the Ethereum network from a proof of work mining system to a proof of stake one. Ether is the second-biggest cryptocurrency by…

Vitalik Buterin, the co-founder of Ethereum, has promised “The Merge” for edging on a decade. Even though it might happen soon, a good portion of the ETH community aren’t happy with the idea of a proof-of-stake system.Photo: Michael Ciaglo (Getty Images)There’s a diamond shaped hole in the earth that’s getting unknowingly deep, and we’re all staring into its depths with minds grown ragged with questions. “The Merge,” which promises a move from the old proof-of-work consensus model to the proof-of-stake, is coming on in a…

Photo: Ina Fassbender (Getty Images)Ethereum is closer than it’s ever been to ditching its highly energy intensive proof-of-work model for a proof-of-stake (POS) alternative.This week, Ethereum ran its final test of the new POS system before it’s set to officially transition next month. The move, once completed, could mark a seismic shift for the crypto industry which has continually had to brush off justified claims, including some made on this website, that cryptocurrencies are an inherent strain on the environment.The…