Following the upgrade, Grayscale, the world’s largest digital asset manager, planned to review and decide whether to sell the former PoW system tokens. But in a recent report, the company noted that it is extending its review.
In September 2022, the Ethereum blockchain network moved from its former Proof-of-Work system to the current Proof-of-Stake consensus mechanism. The move was necessary as the PoS consensus protocol is not energy-intensive but more secure and valuable for deploying new scaling solutions.