The Ethereum Network Just Experienced a Monumental Development

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 19 September 2022

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

For years, it's been on the Ethereum roadmap to transition its blockchain from proof-of-work to proof-of-stake. Well, it's finally happened. This means that there are no more "miners" validating blocks on the Ethereum network. Instead, they've been replaced with "stakers" or "validators" who manage the network's rules by posting coins as a type of bond or security deposit. Why is that such a big deal for the industry? And what does it say about the future of crypto? On this episode, we speak with Christine Kim, a research associate at Galaxy Digital, who walks us through the significance of "the merge," how validation works and what's next for Ethereum.

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