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Cryptocurrency mining is basically verification that transactions on the blockchain are legitimate. One method to do that is “proof of work.” But that takes a lot of electricity. So soon, blockchain platform ethereum will shift to a different method: “proof of stake.” Instead of multiple miners expending energy at the same time, one “validator” wins a lottery to verify the transaction. “Marketplace’s” Kimberly Adams speaks with Alex de Vries, founder of Digiconomist, about what the shift means.
By Marketplace4.4
7777 ratings
Cryptocurrency mining is basically verification that transactions on the blockchain are legitimate. One method to do that is “proof of work.” But that takes a lot of electricity. So soon, blockchain platform ethereum will shift to a different method: “proof of stake.” Instead of multiple miners expending energy at the same time, one “validator” wins a lottery to verify the transaction. “Marketplace’s” Kimberly Adams speaks with Alex de Vries, founder of Digiconomist, about what the shift means.

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