EXPLAINER: Ethereum is ditching its ‘miners.’ Why?

Image caption: FILE – An ethereum ATM is seen in Hong Kong, Friday, May 11, 2018. […] Image credit: AP Photo / Kin Cheung, File. Article by David Hamilton. AP News – September 15, 2022.

SAN FRANCISCO (AP) — A complex software change to the cryptocurrency ethereum holds the potential to dramatically reduce its energy consumption — and resulting climate-related pollution. But the transition known as “the merge” is not going to do the trick by itself. With the change enacted late Wednesday, ethereum — the world’s second most valuable cryptocurrency after bitcoin — has effectively eliminated the energy-intensive task of “mining” new coins on its blockchain. […]

Click here to view original web page at apnews.com