The new system will use 99.95 percent less energy, according to the Ethereum Foundation.
Wormhole, a site that allows the transfer of information from one crypto network to another, says it has been "exploited" for 120,000 units of a version of the second-largest cryptocurrency, ether.
The revamp, which would alter the way transactions are processed, is anticipated to go live on Thursday.
"Quantum" by Kevin McCoy, a simple geometric animation, is the first known non-fungible token, according to auction house Sotheby's.
Ether, the second-biggest cryptocurrency by market capitalisation after bitcoin, climbed to $4,372.35, eclipsing its previous record hit on Monday, and was last up 2%.
The global cryptocurrency market has grown exponentially in 2021 and is now worth a staggering $2 trillion as it increasingly attracts interest from big names on Wall Street.
Hirst painting set “The Virtues” is inspired by the Eight Virtues of Bushido: “Justice, Courage, Mercy, Politeness, Honesty, Honour, Loyalty, Control.”
The latest dip extends a sharp withdrawal of more than 16 percent from a record high hit on Sunday although bitcoin remains up around 75 percent for the year.
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