Ethereum's big proof-of-stake blockchain switch could happen on September 15th:
The second-biggest cryptocurrency could switch to a much more energy-efficient proof-of-stake blockchain, as Ethereum developers proposed a terminal date for the current network to occur on September 15th or 16th.
The Ethereum network has been on a years-long path to switch its energy-hungry proof-of-work blockchain to a more efficient proof-of-stake system, and now its developers are suggesting a date to make the switch. It's not final yet, but on a call streamed via the Ethereum Foundation's YouTube page, they decided to submit this pull request proposing to make the change when the network reaches a specific difficulty mark, which should occur on September 15th or 16th.
Dubbed Terminal Total Difficulty (TTD), it specifies the mining of a particular block where the old network ends and the new one begins at 58750000000000000000000.
[...] Proof of stake, which is already used by other blockchains, can drastically reduce the amount of energy used by having miners lock up crypto they already own as collateral for the chance to validate transactions and face the penalty of losing those tokens if their calculations don't add up.
