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Banks must upgrade their blockchain infrastructure
📰 sources⭐ 8.0
TL;DR:
Banks risk falling behind if they cling to private blockchains. Upgrading to public, permissioned layer-2 infrastructure with ZK-proofs is essential for modern finance.
Key Points:
Background:
Protocol upgrades involve changes to a blockchain's underlying code to add features, improve performance, or fix security issues. Major upgrades like Ethereum's transition to Proof-of-Stake or Bitcoin's Taproot activation represent significant technical milestones in blockchain evolution.
Why It Matters:
Protocol upgrades can fundamentally change how a blockchain operates, affecting scalability, security, and functionality. These technical improvements drive long-term value and competitiveness of blockchain networks in the rapidly evolving crypto ecosystem.