Ethereum: The Merge arrives soon, and the price of the ETH in sharp increas
After several years of waiting, the Ethereum will finally benefit from this long-awaited update in the coming months. The aim is to give the Ethereum a new impetus by aligning it with new technologies. The Merge should mark the transition from Proof of Work to Proof of Stake.
This major advance for the second crypto of the market should give it a good boost. And this is already the case since Ethereum has jumped in value by 14% in the previous months. This is a very good sign, especially since The Merge should be deployed soon by August/ September.
Why is the Proof of Stake (PoS) so awaited on Ethereum?
The PoS is a mechanism used to approve cryptocurrency transactions. It consumes much less energy while supporting the decentralization system. All new emerging cryptos use it for its definite advantage over the Proof of Work system.
PoS is better, faster, and cheaper
Ethereum is facing more and more competitors. They may well steal the spotlight if he does not get up to speed quickly. Even if it is for the moment the best in terms of smart contracts, we must be careful not to be overtaken!
The mechanisms pFBT or the DAG consensus Mechanisms Fused TechPay keep an eye on the crypto giant. TechPay Corner is even called an Ethereum killer because of its much better advanced technology.
The update of Ethereum is not so much a rough improvement, but a real challenge to keep crytpo in the race.
If Ethereum succeeds in its transition, it will ensure that he still has years ahead of him. With a successful merger, we could see a rise in crypto value that could reach X10 in the next few years.
Developers finalize the final details of The Merge
Tim Beiko, one of the main developers of the project announced the final details before the final test phase. The final transition of the Tesnet PoS will take place on the Goerli Testnet.
Goerli is a simulation very close to what can be the Ethereum blockchain. Once this test phase has been completed, the The Merge project can be launched.
For the time being, a first update will be launched on August 4, 2022, to prepare for the Goerli test phase.
Ethereum sees its value jump and challenges forecasts
The Merge is the biggest change to Ethereum since its inception. But this change should have been made 7 years ago.
Despite investor frustration, this has not stopped Ethereum from soaring in value over the past few months.
Currently, 13.1 million ETH are staked on the Beacon channel. That’s over $21 billion.
Investors receive a very good annual return (APY) of 4.6%. However, it is important to note that the latter will unfortunately not be able to withdraw their money until several months after the merger.
If we take a more global view, Ethereum performs well. The crypto markets are doing very well, contrary to what the analysts had predicted. Ethereum prices are rising significantly and the trend is not about to reverse.
Investing in Ethereum seems to be a good bet for years to come.
How to buy ETH easily?
If you want to invest in Ethereum to take advantage of its rise, it’s very easy. Here is a short tutorial to help you get started with buying cryptos:
Registration: Register on a crypto exchange platform. You are spoilt for choice between sites like Binance, Coinbase, or Capital.com that we recommend. You will need to enter your email address, a password, and finally your personal information.
Validation of registration: you will have to attest your identity in order to secure the data. Verification is essential to ensure healthy exchanges between actors.
The deposit of funds: it is a matter of feeding your account in money to be able to exchange it for cryptos. In this case, you will want to exchange your funds for Ethereum. Simply click on “make a deposit” to transfer your money from your bank account or card.
Buying Cryptocurrency: Look for Ethereum in the Capital.com list and click “Buy” when done!
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