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TagsWhat are the reasons behind Chainlink's decision to switch from Ethereum's Proof of Work (PoW) to Proof of Stake (PoS) after the merge?
TJLMar 22, 2022 · 3 years ago1 answersWhy did Chainlink decide to transition from Ethereum's Proof of Work (PoW) to Proof of Stake (PoS) after the merge? What factors influenced this decision?
1 answers
- After the merge, Chainlink decided to switch from Ethereum's Proof of Work (PoW) to Proof of Stake (PoS) in order to align with the direction of the blockchain industry. As a leading decentralized oracle network, Chainlink aims to provide reliable and secure data to smart contracts on various blockchain platforms. The transition to PoS allows Chainlink to enhance its scalability, speed, and energy efficiency, which are crucial factors for the success of any blockchain project. By adopting PoS, Chainlink can also contribute to the overall sustainability of the blockchain ecosystem and reduce its environmental impact. This decision showcases Chainlink's commitment to continuous improvement and its dedication to meeting the evolving needs of the blockchain community.Mar 22, 2022 · 3 years ago
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