Ethereum developers have long been planning to transition the blockchain to a more energy-efficient, secure, and scalable network. They now have an official Ethereum Improvement Proposal to work with. ConsenSys researcher Mikhail Kalinin has created a pull request for EIP-3675, which would upgrade the blockchain's consensus mechanism to proof of stake, a system that allows people to validate transactions and create new blocks based on how much ETH they contribute. The current proof-of-work system instead relies on "miners," who compete to be the first to validate transactions. The proposal, which sets the stage for ... (full story)