Independent cryptocurrency researcher Kyle McDonald last Friday (September 2nd) explained why Bitcoin is getting more attention from regulators due to its high energy consumption after Ethereum’s Merge upgrade was completed. I explained what I could collect.
This is how the Ethereum Foundation does it I will explain A merge demonstrating the Ethereum network’s transition from Proof of Work (PoW) to Proof of Stake (PoS) consensus:
“The merge represents the joining of Ethereum’s existing execution layer (the mainnet we use today) with its new proof-of-stake consensus layer, the Beacon Chain. Eliminate the need for energy-intensive mining and instead use staked ETH to secure the network. A truly exciting step in realizing Ethereum’s vision of increased scalability, security and sustainability.
“It is important to remember that initially the beacon chain was shipped separately from the mainnet. Ethereum mainnet with all accounts, balances, smart contracts and blockchain state will continue to be protected by Proof of Work even while the beacon chains are running in parallel using Proof of Stake. . As the Merge draws near, these two systems will eventually merge, completely replacing Proof of Work with Proof of Stake.
“Consider an analogy. Imagine Ethereum as a spaceship not ready for interstellar voyages. With Beacon Chain, the community has built a new engine and enhanced hull. After significant testing, it was time to hot swap the old and new engines in flight. This will allow new, more efficient engines to be integrated into existing ships, ready to throw some serious light years into space.“
according to report According to CoinDesk, published last Friday (September 2), McDonald’s is selling bitcoin now because the price of bitcoin could crash if it is banned by regulators. I think it’s better to
The reason McDonald’s is worried about Bitcoin acquiring Bitcoin after the merger is that Ethereum will switch to the much more energy-efficient PoS consensus, as regulators presumably think PoW was never essential. because it may become
According to the report, he spoke on CoinDesk TV’s “First Mover” show about the climate crisis, Bitcoin mining’s enormous energy consumption, and evidence that Bitcoin is very unlikely to switch to a greener PoS consensus. The lack, he said, could put pressure on regulators to ban bitcoin and, in fact, could make bitcoin the first cryptocurrency to be “excluded from regulation” (at least in the United States and in certain jurisdictions such as the European Union).
McDonald also said he believed the Ethereum Foundation’s claims of a merge that would reduce Ethereum’s energy consumption by 99.95%.
“If you are migrating from a system that generates as many random numbers as possible in 10 million as fast as possible [graphic processing units] For a very low energy system running thousands of computers this would make a big difference.“
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