Late last year, ethereum began its long-awaited shift from bitcoin’s proof-of-work security and validation model to proof-of-stake—something many developers hope will make ethereum more efficient and less energy demanding.
The ethereum price is already up by 1,000% on this time last year, leaving bitcoin and many other major cryptocurrencies in the dust.
However, a number of ethereum rivals have sprung up over the last year, including cardano, solana, Binance’s BNB and polkadot.
I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.