This piece from BitcoinTalkRadio details how and why the Ethereum Foundation is planning the Ethereum blockchain’s change of consensus algorithm from the current Proof-of-Work (POW) to the planned Proof-of-Stake (POS) consensus. For anyone currently mining Ethereum (ETH), I’d highly recommend you get your head around this and plan accordingly…

After years of development, Ethereum has a new plan to update the algorithm that keeps its entire network in sync.

Vitalik Buterin, Ethereum’s creator, recently released a rough implementation guide that reveals the network’s developers will first start with a ‘hybrid’ system that merges bitcoin-style proof-of-work mining with its much-anticipated and still-experimental proof-of-stake system called Casper, created by Buterin.

The plan effectively means ethereum will begin alternating between the two systems, so that some transaction blocks (one out of 100) are secured via proof-of-stake and the rest remain on proof-of-work.

Buterin has notably been working on his implementation in parallel with ethereum developer Vlad Zamfir, “cross-pollinating” their ideas.

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