The Ethereum Merge can Reduce Blockchain’s Energy Consumption by 99%? KDA with IIT Kanpur to Explore Blockchain Technology: Tech Market Roundup
Here is some quick tech catch for you so that you stay updated with the latest crypto and tech news
Good morning Tech Fam, here’s a quick tech update for you to catch on:
What’s new today: KDA is all set to sign an MoU with IIT-Kanpur on Monday to explore opportunities in blockchain technology; Korea-based LG is releasing a non-fungible token (NFT) marketplace called LG Art Lab that plugs into the Hedera Network, which LG supports.
Fast-Trach Insights: A long-awaited systemwide upgrade that experts say will reduce the blockchain’s energy consumption by about 99%; Microsoft has some good news for Sony PlayStation gaming console users.
Ethereum, the second largest blockchain by market cap, is about to undergo a massive transformation known to the crypto community as “the Merge.” It’s a long-awaited systemwide upgrade that experts say will reduce the blockchain’s energy consumption by about 99% by switching its transaction verification system away from “proof-of-work,” which relies on crypto “miners” using massive amounts of computing power to validate transactions.
Korea-based LG is releasing a non-fungible token (NFT) marketplace called LG Art Lab that plugs into the Hedera Network, which LG supports. Television owners with sets updated to LG’s most recent software will be able to buy, sell and showcase their Hedera NFTs from their screens.
Microsoft has some good news for Sony PlayStation gaming console users. The company is reportedly committing to keep Call of Duty (CoD) on PlayStation for “several more years” beyond the existing marketing deal Sony has with Activision. Microsoft Gaming CEO Phil Spencer told The Verge that CoD would stay on Sony PlayStation consoles for many years.
New technology with Inflatable Aerodynamic Decelerator (IAD) has been successfully demonstrated by the Indian Space Research Organization (ISRO) on Saturday which said that it is a game-changer with multiple applications for future missions including to Mars and Venus, according to a news agency PTI.
The Kanpur Development Authority (KDA) is all set to sign a Memorandum of Understanding (MoU) with IIT-Kanpur on Monday to explore opportunities in blockchain technology and to onboard the institution as its “knowledge partner”.
