Ethereum founder Whitlake Buttern told Bloomberg that he hopes the Ethereum blockchain will be moved to Proof of Stack by the end of this year. This state-of-the-art technology will significantly reduce the energy consumption of etherium mining
Buttern said that with the advent of new technology, Ethereum mining will cost only 10,000th of the current electricity bill. As the value of the cryptocurrency and Ethereum has increased over the past few years, the transfer of Ethereum to Proof of Stack is urgently needed. According to some other experts, the transfer of Ethereum to Proof of Stack will be possible by next year.
Buttern added that he is pleased that the completion of the proof-of-stack process will eliminate problems such as proof-of-work (current technology). Proof of work technology uses a lot of electricity which is being severely criticized.
Buttern has been trying to move the blockchain from proof of stack since its inception. According to him, the transfer of Ethereum to Proof of Stack will increase the trading of cryptocurrency, which will also increase its value.
A few days ago, Tesla chief Elon Musk said that his company would no longer charge bitcoins for selling cars, as it consumes a lot of electricity. The bitcoin crashed after Musk's statement, while the price of etherium remained at an all-time high.
Head of Pantera Capital, Dan Marheid, agreed with Buttern, saying that the rise in the value of Ethereum is more stable and more people will be trading in it after the transfer to Proof of Stack, because Ethereum, It may be more environmentally friendly than bitcoin and will boost public confidence and is expected to increase investment in Ethereum.
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