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Designer Stellenbosch

Live long and prosper, Ethereum

16 Sep 2022

The cynics among us might say that everything in crypto sounds like science fiction because, at its root, crypto is science fiction. The science part is the tech, the fiction part is the utility. With bitcoin and ethereum both down by half over the past year, the value is beginning to feel like a kind of fiction too.

Source: Pixabay

But often, I find, the most interesting things happen when organisations are under pressure, rather than when they are soaring away full of confidence and vigour. And, actually, a lot has been happening that could change the future of crypto fundamentally, starting with Thursday’s Ethereum merge.

There are many people who may describe this better than I can, but the main aim of the merge was to change the nature of the problem which sits at the heart of crypto. Bitcoin, Ethereum and many others were created by solving complicated computer puzzles. That’s necessary because if the computation is simple then too many coins would be created, and if it’s too hard, there would be too few.

Read the original article on Daily Maverick.

Source: Daily Maverick

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