Gate.io Blog:Post-Merge Era | With disappointed Drop and Upcoming Shanghai Update, What Is the Future of Ethereum
🔹 The plan in the 2014 white paper was finally realized eight years later, but the market did not rise as expected.
🔹 Ether fell to its lowest point since July, reversing all gains since mid-July.
🔹 Shanghai Upgrade is expected to open staking and withdrawal for upgrading, but there are still many uncertain factors.
🔹 Lido and Coinbase control more than 40% of the nodes in the Ethereum network, causing concern in the community.
It has been a week since the beginning of a new epoch for the Ethereum network following the historic termination of the proof-of-work (PoW) mechanism. The energy-consuming consensus protocol, which has been used for eight years, was finally scrapped for a more sustainable proof-of-stake (PoS) mechanism. However, the upgrading performance did not seem to be as "lively" as people imagined, and the market was still struggling in a long bear market. Even after the Merge, Ethereum once fell to $1,489, along with Bitcoin.
For more details, please refer to our blog post：Post-Merge Era | With disappointed Drop and Upcoming Shanghai Update, What Is the Future of Ethereum
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