The “merge” of the Ethereum blockchain, expected in mid-September, will allow holders of its native crypto token to earn yield for helping to validate the network, which has prompted DigitalX to sell bitcoin and buy ether.
The ASX-listed digital asset manager said last week it would become a “validator” on the new Ethereum network once its “consensus mechanism”, which updates and secures it, shifts from “proof of work” to “proof of stake”.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
