Cryptocurrency Q&A
When did Ethereum move from PoW to PoS?
When did Ethereum move from PoW to PoS?
DigitalLordGuard
Thu Jun 20 2024
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7 answers
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When did the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) occur for Ethereum, marking a significant milestone in the cryptocurrency's history? The shift has been long anticipated and has garnered immense attention from enthusiasts and industry observers alike. The move was heralded as a more energy-efficient alternative to the traditional PoW consensus mechanism, promising to reduce energy consumption by a staggering 99.95%. What specific date did this epochal transition occur, paving the way for Ethereum to enter the ETH 2.0 era and ushering in a new chapter for the blockchain network?
7 answers
Caterina
Sat Jun 22 2024
This momentous occasion marked a fundamental shift in the underlying consensus mechanism of the blockchain.
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KpopStarlet
Sat Jun 22 2024
This transformation not only aligns Ethereum with the growing global trend towards sustainability but also paves the way for more widespread adoption.
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Valentino
Sat Jun 22 2024
Prior to the upgrade, Ethereum relied on the proof-of-work (PoW) algorithm, which is known for its energy-intensive nature.
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Dario
Sat Jun 22 2024
However, with the recent upgrade, Ethereum transitioned to the proof-of-stake (PoS) consensus mechanism.
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DongdaemunTrend
Sat Jun 22 2024
On September 15th, 2022, Ethereum, renowned as the second-largest cryptocurrency by market capitalization, embarked on a significant milestone.
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