Ethereum Merge Review-Forecast And Predictions

vvvvvvvvv

Share this :

Facebook
Twitter
LinkedIn
Pinterest

September 15 was a truly historic moment for the entire crypto market. Blockchain, the second largest cryptocurrency by capitalization, Ethereum, switched from the Proof of Work algorithm to Proof of Stake. A small spoiler: the merger went without errors and the network was successfully updated, despite the unceasing disputes and contradictions in the opinions of members of the crypto community. Today we will talk about how the transition took place, what fundamentally changed in Ethereum and what to expect from the ETH coin further.

Even the most expensive NFT artist, Beeple, supported the Ethereum merger with two massive works. The image on the left is called “PROOF OF STAKE”, on the right – “THE MERGE” (merging).

What happens next after the Ethereum merger?
According to our market data, the price of Ethereum is trading at $1,335.34, down about 1.5% over the past 24 hours. The entire capitalization of the crypto market is about $1.03 trillion, which is about 1% lower.

Even though the cryptocurrency market is on a downward trend, it is reported that institutional investors are flooding the industry. (Check Most Interested Countries Regarded Ethereum merge On Coingecko Here)

“Despite short-term cycles, the momentum of institutional adoption is heading in one direction—toward more exploration and more interest,” said Greg Touzar, vice president of institutional products at Coinbase.
However, the effects of the merger could show up in the coming months. In addition, cryptocurrency bull markets in the past have taken place a year after Bitcoin halved.

The start of the merger has far-reaching implications for the entire crypto market, especially for investors. Remember that the merger has been in the making for the past six years, with several delays in the past. In the case of a hard fork, all shareholders had to come to a common agreement, which made it an important event.

With the development of the ETH mining industry, the logistics of anyone who validates Ethereum transactions is achievable. What’s more, it only takes 32 units of ETH to become a full-fledged node.

By proving that decentralized networks can seamlessly coordinate a major hard fork, more institutional investors are likely to jump into crypto.

The merger paved the way for further increases in scalability that were not possible under the Proof-of-Work (PoW) consensus. Therefore, the Ethereum network is one step closer to achieving the full-scale mission of security and resilience.

There are a number of updates set up after the successful ETH merge. In addition, the Merge Update does not include some expected features, such as the ability to withdraw staked ETH. Therefore, an update in Shanghai is planned after the merger, which will allow validators to withdraw staked assets.

Another major update that is controversial due to the existence of Tier 2 rollups is the Sharding update. The segmentation update is reportedly expected at the end of 2023. Notably, sharding is the process of horizontally splitting a database to distribute the load on the blockchain.

Conclusions. Where will the Ether “go”?
The update of the ether has affected not only its “inner kitchen”, but also the global cryptocurrency market. The blockchain of Vitalik Buterin and the team has long been one of the most popular incubators for a new generation of applications. A variety of software is created on the basis of Ethereum, and a series of articles is not enough to describe the entire range of its application.

After the update, we have a completely new asset. More flexible and profitable and safer for users, more convenient and native for developers, and more open and understandable for regulators.

The successful completion of the Merge cemented ETH’s status as the second largest cryptocurrency in the world. And many experts even believe that the dominance of Bitcoin will end within five years.

No matter how strongly the traditional finance sector opposes the promotion of cryptocurrencies, in the future they will inevitably take a dominant position. And the ever-evolving Ethereum is one of the pillars of this industry. Everything said in the article is not investment advice or investment recommendation. Make all decisions only on the basis of your personal analysis.

If You Want To Learn More How To Make Big Money And Passive Income With Crypto Click Here

Affiliate Disclosure:

The links contained in this product review may result in a small commission if you opt to purchase the product recommended at no additional cost to you. This goes towards supporting our research and editorial team and please know we only recommend high quality products.

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!