The merge, opportunities and more applications for blockchain
The merge is one of the most anticipated crypto events in 2022. The merge is the transition of Ethereum from a proof-of-work (POW) consensus algorithm to a proof-of-stake (POS) after the merging of the current Ethereum Mainnet with the Beacon Chain proof-of-stake system. It is estimated that Ethereum’s energy consumption will drop by over 99.5%. All else constant, the Merge is scheduled to take place on 19th September 2022.
Earlier in the year, we migrated to the Polygon network; situated on layer 2 of Ethereum, which has allowed us to eliminate the reward threshold and send rewards instantly upon task verification to users for 10,000x (times) less gas than the Ethereum Mainnet.
Colombia has successfully issued a digital bond based on blockchain technology. Colombia is now ready to start issuing crypto bonds after the pilot test was completed this week successfully, according to the regulator of the South American country. The regulator reported through its Twitter account on Tuesday, August 23.
It is encouraging to witness other blockchain innovations following the successful launch of Adbank’s #blockchain Beta Partner (the Self-serve platform) that allows individuals and businesses to launch microtasks and get real followers who are KYC-verified!
Opportunities for crypto experts are growing every day. Brazilian Senate seeks to hire two candidates to advise on crypto and blockchain matters to help in better legislation. Legislative consultant to the senate is the proposed title for the position in question.
Teach crypto and blockchain in schools? A new study by Study.com found that 64% of the parents and 67% of the college graduates surveyed believed that cryptocurrencies should be part of mandatory education. The survey participants cited understanding the risk and reward of the investment, diversifying investments, and to learn the future of the economy among others as the reasons children should be educated on crypto, the metaverse, and the blockchain.
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Stay tuned for upcoming developments. Coming soon…