In Episode 164 of My Metaverse Minute, Kieron discusses the possible outcomes of Ethereum’s Merge, an energy-saving upgrade of the decentralized, open-source blockchain’s consensus mechanism, as others could be following Ethereum’s lead.
This episode of My Metaverse Minute is sponsored by Community Summit North America, the largest independent gathering of the Microsoft Business Applications ecosystem taking place October 10-13 at the Gaylord Palms in Orlando, Florida. With 500+ Dynamics 365 & Power Platform sessions and more than 300 speakers, this event is a must-attend for Microsoft customers. Visit summitna.com for more details.
Highlights
00:40 — Ethereum’s Merge is one of the most significant moments for the evolution and development of the Metaverse.
01:06 — With the Merge update, Ethereum has switched its consensus mechanism from proof of work to proof of stake. By doing so it has reduced its electricity consumption by 99%.
01:20 — There was a lot of trepidation before “The Merge” took place on September 15th, but it was a resounding success.
02:00 — What does this mean for the Metaverse? It’s a big thing for the crypto industry — and other cryptocurrencies are likely to follow suit (or at least should). Additionally, this is a major move for the Metaverse, as one of its core foundations is digital currencies and transactions.
03:55 — Kieron suggests that by forcing the hand of Metaverse companies, Ethereum may have created a domino effect that ensures that businesses are matching their sustainability efforts in the real world.
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