MIT Names Ethereum PoS ‘Top Technological Breakthrough’ In 2022

The Massachusetts Institute of Technology has added Ethereum’s ETH’s impending switch to a proof-of-stake blockchain to its list of major technological accomplishments for 2022. MIT detailed how a proof-of-stake consensus mechanism can safeguard digital money while also addressing the crypto industry’s energy consumption issues in a research released on its technology review website. “If all goes according to plan, Ethereum, which is also the world’s second-largest cryptocurrency, will shift to it in the first half of 2022,” according to the report. “The change is expected to reduce energy consumption by 99.95 percent.” Other ‘important players’ to watch in the PoS arena, according to MIT, are Cardano ADA, Solana SOL, and Algorand ALGO. The institution emphasized the significance of ‘The Merge’ — the time when Ethereum formally switches to PoS and abandons the proof-of-work consensus — as a watershed moment that might pave the way for widespread PoS adoption. According to MIT, “Ethereum will be the largest network to deploy proof-of-stake.” Unlike proof-of-work, the proof-of-stake consensus process does not need validators to solve equations; instead, validators are randomly rewarded based on the amount of money they stake. JUST IN: Massachusetts Institute of Technology (MIT) has named #Ethereum’s upcoming PoS 'Top Technological Breakthrough' in 2022. — Watcher.Guru (@WatcherGuru) March 1, 2022 Last year, Ethereum co-founder V...