Ethereum’s Proof of Stake earns place in MIT’s ‘Top Technological Breakthroughs’ of 2022

What 

The Massachusetts Institute of Technology (MIT) has added Ethereum’s upcoming proof-of-stake blockchain to its list of top technological breakthroughs for 2022

Why 

According to a report published on its website, MIT chose the consensus mechanism due to its potential to end the energy consumption issues that are often a focus of the crypto space

What next

Ethereum plans to transition to proof-of-stake in the first half of 2022, the report adds

The Story

Ethereum’s forthcoming proof-of-stake (PoS) blockchain has earned a place on MIT’s list of the best technological breakthroughs for 2022. 

The report, published on its technology review website, championed the consensus protocol’s ability to secure digital currency and potentially end the energy consumption debate that has hung over much of the mainstream discourse around cryptocurrencies.

Last year, Ethereum co-founder Vitalik Buterin said the network’s transition to PoS could reduce energy consumption by a factor of 1,000. 

Fellow cryptocurrencies Cardano, Solana and Algorand have also earned spots on the list as key players to watch in the PoS ecosystem.

To learn more about Ethereum and its move to the PoS consensus mechanism, visit our learning resource here.