Global News published this video item, entitled “Ethereum: How the 2nd largest crypto in the world just got greener” – below is their description.
Ethereum, the number two cryptocurrency in the world, was pioneered by Canadians. It underwent a significant change on September 14, which dramatically cuts down its environmental footprint.
The Ethereum blockchain has moved from a system based on “proof of work” to “proof of stake.”
Instead of relying on lots of computing power and electricity use to validate transactions, people effectively lend the network their ether tokens in a smart contract–which is a bit of computer code that runs on that blockchain.
Anne Gaviola has more on this important milestone in the digital currencies world.
For more info, please go to https://globalnews.ca
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