CryptoWatch: Ethereum goes carbon-free, and the many developments for cryptocurrency now
Cryptocurrency is on the brink of change now, and it aims to evolve in better ways that will also help the earth, something Ethereum suggested last week with its carbon-free operations soon. CryptoWatch is here to monitor the weekly cryptocurrency changes and aims to deliver new updates for the digital blockchain of the world.
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An illustration photo taken in London on May 8, 2022 shows a gold-plated souvenir cryptocurrency Tether (USDT) coin placed next to a screen showing a trading chart.
Ethereum aims to become carbon-free
One of the most incredible changes for cryptocurrency is happening at Ethereum’s blockchain, and it’s a drastic technological shift at the company that will shift its efforts towards earth conservation. Last week saw the massive change from Ethereum moving to a new system the company developed, focusing on reducing carbon emissions by 99 percent.
Ethereum’s new “proof of stake” will help focus on reducing the burden on supercomputers to verify transactions from each stake against the blockchain. The process will allow users to verify their transactions and ease the burden on the company’s technology to do the work for them, effectively helping to reduce power consumption.
According to Science Alert, other blockchains like Bitcoin will see pressure from this shift toward lower carbon emissions and encourage them to do the same.
Also read: GameStop Sold Stolen NFT Indie Games: Collection Earned Around $14K
Intel’s new blockchain chip
Intel’s Accelerated Custom Engineering team developed a new chip that is minimal in size, about 10 times the size of a US postage stamp, to help with energy conservation. The new processor from the renowned company is called Intel® BlockscaleTM ASIC, a device that hit the market less than a year after it was developed.
The new blockchain chip from the company is capable of processing trillions of data operations every second, and it is a powerful device that will help blockchain operations flourish. The device will also help save energy and reduce wasteful power consumption that is evident in most processors and systems in the world.
Crypto.com typo
Who would have thought that a typo to refund some misallocated funds could help make one person $7.2 million richer?
This is what happened to an Australian woman who saw a significant amount in her crypto account via Crypto.com after a typographical error occurred. Instead of a transfer of just $68, the woman received a whopping $7.2 million in her account, and before the company even knew it, the money had already been spent by this user.
The error went unnoticed for seven months and the Australian woman had already spent the money from the company, and was now seeking legal action to return this money. The woman bought a house with said money and is now being asked to sell it and return the funds.
Related article: Ethereum Merger Confirmed to Start September 6: Here’s What You Need to Know
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Written by Isaiah Richard
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