A renowned cryptocurrency news website releases a new report on Ethereum's green credentials following its merge with the Beacon Chain's proof-of-stake consensus.
Parks,United States - November 18, 2022 /PressCable/ —
The latest launch from DynoFun offers insight and commentary on Ethereum’s parallel blockchain and the implications it has for cryptocurrency miners and proof-of-work systems. The article highlights the environmental benefits of Ethereum’s proof-of-stake development and draws on expertise from thought leaders in the DeFi space.
More details can be found at https://dynofun.com/the-ethereum-merge-news-update-success-or-not-30-days-later
The newly-published piece offers readers an engaging analysis of the Ethereum merge and what it means for users and holders. The report tackles some of the big questions that were posed as a result of Ethereum’s parallel blockchain launch such as whether it will make the currency more secure.
According to the article, crypto mining via the older proof-of-work system uses up vast amounts of energy and quickly burns through computer hardware. This results in nearly 38 kilotons of electronic waste every year with a carbon footprint equivalent to countries like Chile and Denmark.
The guide goes on to explain that Ethereum’s Merge and adoption of proof-of-stake protocols sidesteps the energy-intensive issues faced by cryptographers. The Ethereum Foundation estimates that electricity consumption will plummet by approximately 99% as a result.
Readers can also get some insight into the risks associated with Ethereum’s latest move not least the $188 billion’s worth of ether currently in circulation and the technical bugs that may plague the blockchain in its early stages. However, commentators also point out that a new slashing function may make Ethereum more secure than ever with validators liable to have their stake ether burned if they act maliciously.
Other key points discussed in the DynoFun report relate to the investment implications of Ethereum’s Merge. The environmental upgrades seem likely to push crypto further into the mainstream while the new staking protocol increases the financial incentives with users having to stake their ETH to generate a yield.
With the proof-of-stake model likely to reduce inflation and increase staking yields, the report also points to the appeal for institutional investors. Issuance of ETH looks set to decrease substantially as per Needham & Co.’s latest forecast.
The article states, “Despite swapping out proof-of-work, the entire history of Ethereum since genesis remained intact and unaltered by the transition to proof-of-stake. Any funds held in wallets before The Merge are still accessible after The Merge. No action is required to upgrade.”
For more information, and to read the report in full, go to https://dynofun.com/the-ethereum-merge-news-update-success-or-not-30-days-later
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
Contact Info:
Name: McClung
Email: Send Email
Organization: DynoFun
Address: PO Box 50664, Parks, Arizona 86004, United States
Website: http://www.dynofun.com
Source: PressCable
Release ID: 89085142
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