Ethereum's 'Merge' is anticipated to lower the blockchain’s carbon footprint, reduce ether supply and potentially have a profound impact on the whole crypto ecosystem.
Ethereum’s “Merge,” a highly anticipated upgrade, is expected to be completed around Thursday, Sept. 15. If successful, the upgrade is anticipated to lower the blockchain’s carbon footprint, reduce ether supply and potentially have a profound impact on the whole crypto ecosystem.What is Ethereum Merge? The Merge is a plan to transition the Ethereum ETHUSD, +1.
Under proof-of-stake, blockchain transactions are validated by coin owners, who stake, or lock up their cryptocurrencies with the blockchain. As it doesn’t require much use of electricity, the mechanism has been pitched as a more environmentally-friendly alternative to proof-of-work, and currently is used by many of Ethereum’s competitors, such as Binance Chain, Solana SOLUSD, +1.74%, Cardano ADAUSD, +0.25%, Polkadot DOTUSD, +0.56% and Avalanche AVAXUSD, +1.22%.
What’s more, the Merge may pave the way for Ethereum to become more scalable, setting the foundation for the blockchain to become faster and cheaper in the future. Some also expect the price of ether to rise into the “Merge,” though the crypto has plunged 53% year-to-date, according to CoinDesk data. Analysts at research firm FSInsight expect ether’s market cap to surpass that bitcoin in the next 12 months, as ether’s new supply is reduced and as selling pressure from miners is eliminated, according to a recent note. Ether’s market cap stands at $202 billion, while that of bitcoin is about $411 billion, according to data from CoinMarketCap.
Most recently, Google has added a countdown clock for Ethereum Merge, expecting it to be completed at around 2:20 a.m. Eastern time Sept. 15, based on the difficulty of the merge and hashrate.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A Comprehensive Look at Ethereum and The Merge: Part TwoAll eyes are on the Ethereum merge this week as the world’s largest smart contract platform is poised to transition from proof-of-work (PoW) consensus to
Read more »
Ethereum to Avoid $30 Billion in Selling Pressure Only 2 Years After Merge UpdateIt is important to note how much selling pressure $ETH will avoid in the next few years following PoW shutdown
Read more »
Singapore Tops List of 8 Countries 'Most Interested in the Ethereum Merge' – Bitcoin NewsGermany, the U.S., and Turkey have the 'highest search levels for the term Ethereum POW.' ethpow pos ethmerge
Read more »
Ethereum POW Tokens Spike by 25% Ahead of Merge After 70% Plunge PreviouslyEthereum PoW token is gaining some traction ahead of Merge, recovering 25% of its price in the last 24 hours
Read more »
Ethereum (ETH) on PoS Already Under 51% Attack: Investor Jason WilliamsSeasoned investor and award-winning author explains why post-Merge Ethereum (ETH) looks centralized for him
Read more »
Ethereum is grappling with the risk of censorship after The MergeThe Ethereum community is worried that The Merge could lead to censorship on its base layer — and want to fight against it.
Read more »