SINGAPORE — Cryptocurrency gamers are hoping a long-awaited overhaul of Ethereum and its digital coin ether will revive investor urge for food for digital belongings amid a worldwide plunge in costs.
Ethereum is transitioning from mining to a proof-of-stake mannequin during which an proprietor pledges his or her personal digital tokens as collateral to validate a transaction on the blockchain. This shift will slash power use by as much as 99.95%, based on the Ethereum Basis, a nonprofit group supporting the blockchain.
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