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The Merge came, saw and conquered. Not that you’d guess from crypto prices. The Ethereum blockchain’s mega-upgrade finally went live on Sept. 15, moving it to a less energy-intensive “proof of stake” (PoS) system with hardly a hiccup. Even though anticipation of the event had seen ether rise about 85% from its June doldrums, it…
As India readies to take over the presidency of G20, one of the key agenda items it will push for will be reforms in institutions like the World Bank and International Monetary Fund (IMF) to make them more attuned to the needs and aspirations of developing economies, Business Standard has learnt.
The government is working on a comprehensive indirect tax regime for crypto assets, which will check revenue loss to the exchequer due to the uncertain nature of these assets, reported Livemint on Monday. Nirmala Sitharam-led finance ministry is planning to define the characteristics of cryptocurrencies, their use, and how they fit into the existing legal…
India may soon have a greater clarity on regulation of crypto assets as the government has stepped up efforts in that direction. The recent meeting of the Financial Stability and Development Council (FSDC), chaired by Union Finance Minister Nirmala Sitharaman, impressed upon the members the need for a clear consensus on the legality of cryptocurrencies….
This week’s biggest news in the crypto industry was the completion of Ethereum’s update, Merge. However, it failed to bring the market out of the bear grip. In the last seven days, Ethereum has plunged over 13 per cent. Bitcoin, the largest digital currency by market capitalisation (m-cap), is down nearly 5 per cent. Almost…
After much celebration over the successful transition of Ethereum, the question remains what’s next for the most commercially-significant crypto project. The long-awaited software revision, termed the Merge, shifted the blockchain from a so-called proof-of-work system to a more energy efficient proof-of-stake method for securing the network. There was no changes related to network transaction costs…
Ethereum has completed a key revamp of its blockchain network, marking the crypto world’s most-ambitious software upgrade to date. As a result, Ethereum’s carbon consumption will decline by an estimated 99 per cent. Called the Merge, the upgrade completed in the early hours of Thursday, Ethereum co-founder Vitalik Buterin tweeted. The change replaced power-hungry computers…
The Indian blockchain industry on Thursday hailed the historic upgrade of Ethereum, known as the ‘Merge’, that will create a more energy-efficient network based on the second largest cryptocurrency (after Bitcoin) with a promise to save the environment. The Merge was the most complicated upgrade to Ethereum to date– from a proof-of-work consensus mechanism to…
By Elizabeth Howcroft and Maria Ponnezhath LONDON (Reuters) -The Ethereum blockchain has undergone a major software upgrade, drastically reducing its energy usage, its inventor and co-founder tweeted on Thursday. The new system will use 99.95% less energy, according to the Ethereum Foundation. The upgrade, which changes how transactions occur and how ether tokens are created,…
