Ethereum Completes Consolidation, Do Kwon Faces Arrest, and Bitcoin Drops After Protest: Hodler’s Digest, September 11-17
Breaking: The Historical Date of Cryptocurrency When a Proof of Stake Merger Happened
The highly anticipated transition of Ethereums to the proof-of-stake (PoS) consensus algorithm, known as Consolidation, took place at 6:42:42 a.m. UTC on September 15. The move is an important part. importance of the multi-year transition for the Ethereum blockchain. Eli Ben-Sasson, co-founder and president of StarkWare, told Cointelegraph about the Consolidation, telling Cointelegraph it started a chain reaction of change. Consolidation is supposed to help the Ethereum blockchain reduce energy consumption by around 99%.
In a viewing party before networks move from proof of work (PoW) to PoS, Ethereum co-founder Vitalik Buterin said: [It] has clearly been a dream for the Ethereum ecosystem since its inception. We started our proof-of-stake research with that blog post on Slosher in January 2014.
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