No.2 cryptocurrency Ethereum faces software ‘fork’; lower supply seen

Ethereum, the world’s second biggest cryptocurrency, was set on Thursday for major software upgrades that traders and analysts predicted would significantly reduce its supply.

Ethereum is upgrading its network to cut the costs and complexity of interactions and communications on its blockchain.

It will undergo two so-called “hard forks” during the evening, in essence creating a new version of its blockchain software that will give miners fewer incentives to spend time and energy producing fresh coins.