Ethereum Merge : What You Need to Know About Ethereum’s Big Move!

Ethereum blockchain is happy to step forward to the next level by stepping into a major upgrade. Co-founder of Ethereum named, “Vitalik Buterin”, announces about this upgrade aiming to reduce the consumption of the energy with this Etherum merge. 

Works for this upgrade has been for years, just to ensure the way of changing the transactions on Ethereum network. This merge has the potential to switch over from the current PoW consensus mechanism to the environment-friendly proof-of-stake (PoS) system.

This news about the upgrade spreads rapidly, as the prices of Ethereum are dropping from the last week upto 6%. Due to this price fall, the Ethereum & Ethereum based coins are disabled for transactions. 

So, investors can take this piece of advice if they are willing to invest in Ethereum. The volatility of Ethereum market is high after this merge and uncalculated risk may occur eventually. 

Benefits:

1. This merge enhances the future scalability by lowering the energy consumption of this network. 
2. Investors are benefitted in the long run, as it paves a way for future improvements like cost cutting and ecosystem development.
3. It is predicted to have significant influence on the entire crypto industry.
4. Hashing power has increased for about 200% in the last 30 days.

Now Ethereum takes the spotlight after this merge and they are happy for its successful completion of this upgrade. With a successful merge, Ethereum can await new investors as it transitions to this 2.0 version, “said Prashant Kumar, Founder and CEO at weTrade.

Reference: livemint