Proof of stake, which is already employed by other blockchains, may substantially cut energy consumption by having miners lock up crypto they already hold as collateral for the opportunity to verify transactions and risk the penalty of losing those tokens if their calculations fail.
Shifting the network over in September — a strategy that does not sit well with everyone who currently mines Ethereum — would put it a little outside the three-month window Chris Dixon proposed on our Decoder podcast in April, but it could help address one major issue with Web3 and blockchain projects once it’s completed.
