Spain’s central bank tells financial institutions to reveal their cryptocurrency plans until 2024 Both are methods of verifying transactions on the blockchain, but proof of work uses a lot of energy, while proof of stake is considered more energy efficient and reduces the risk of attacks by miners on the network. The update paves the way for Ethereum’s transition from a “proof of work” to a “proof of stake” consensus mechanism.
The Ethereum 2.0 Altair Beacon Chain Update is a pivotal step in achieving Ethereum 2.0, a significant upgrade to the network that has been bubbling since years. Ether hits fresh all-time highĮther, the world’s second largest cryptocurrency, hit a fresh all-time high of almost $4,661 according to data this week, and the rally shows little signs of abating.Įxperts attributed ether’s latest rally to an upgrade that took place on Friday and to its role in non-fungible-tokens (NFTs). Here are the top stories that caught our eye.
Welcome back, it was the week when ether hit a fresh record high and an obscure cryptocurrency, called SHIB, was in the spotlight for all the wrong reasons.