'Green ETH' narrative to drive investment and adoption, says pundits
Post-Merge Ethereum has now detached itself from the “crypto mining is bad for the environment” narrative, following its transition to proof-of-stake. The shedding of Ethereum’s energy-intensive proof-of-work (PoW) system is expected to see Ether (ETH) “flow into the institutional world,” according to a number of fund managers and co-founders.On Sept. 15, Ethereum officially transitioned to a proof-of-stake (PoS) consensus mechanism, which is expected to cut energy consumption used by the network by 99.95%, according to the Ethereum Foundation. The upgrade effectively ended the need for....
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It may be that the most-cited narrative of bitcoin is simply one of many aspects in this global technological adoption.
If there was one word that could describe bitcoin over the past year, it would be 'unpredictable'. So, with that in mind and armed with 20/20 hindsight at year's end, it's fun to go back and look at all the people who tried to do just that. Whether they prognosticated over the entrails of dead animals or defunct bitcoin exchanges, actual data or emotional investment, the results were - perhaps unsurprisingly - often far off the mark. A large majority of bitcoin fortune-tellers focused on whether the price would go stratospheric or tank, but other more thoughtful commentators looked at....
The new Bitcoin Clean Energy Investment Initiative will aim to make mining more eco-friendly. On Tuesday, payments giant Square announced a major push to go carbon neutral by 2030.As part of the initiative, Square will be dedicating $10 million to its Bitcoin Clean Energy Investment Initiative, which aims "to support companies that help drive adoption and efficiency of renewables within the bitcoin ecosystem."Square is the firm behind CashApp, which is a major force in bringing crypto to regular users. In today's announcement, Square identified Bitcoin as "a unique part of Square’s....
Rock bottom interest rates and fiscal stimulus has driven momentum in the crypto sector the Fidelity executive said. Executives at investment giant Fidelity are confident that cryptocurrency market momentum will continue for the foreseeable future.Speaking to MarketWatch on April 8, Tom Jessop who heads the investment firm’s crypto division said that he believes crypto has opened a new chapter in traditional finance circles and things have reached a tipping point for the industry.Jessop stated that the maturation and adoption of crypto assets as an investment class will continue at a rapid....
If you want to save the world, it's going to take a lot of hard drives. Chia Network (CHIA), which emerged onto the cryptocurrency scene with the promise of cleaning up the environmental mess left by Bitcoin (BTC) miners, may not be as green as it seems. Unlike Bitcoin, Ether (ETH) and others, Chia Network mines coins using an alternative to the energy-intensive Proof-of-Work (PoW). Chia coins are produced using only hard drive storage, and don’t require specialized ASIC hardware, or GPUs. But reports coming out of China point suggest that saving the environment isn’t as easy as it sounds....