Ethereum Coin Drops 3.8% in One Day as Ethereum Merger Delayed
2022-04-15 15:59:23
How Do I Invest In Ethereum?
On April 13, Tim Beiko, the lead developer of Ether, announced on Twitter that the merger of Ether, which was scheduled to be completed in June this year, will be postponed. There is no exact completion time yet, but the project has entered the final chapter of PoW on Ethereum. This is another postponement of the Ethereum Merger in recent years.
The Upgrade of Ether from PoW to PoS Mechanism
One of the main problems with the Ethereum blockchain is energy consumption, which will also lead to high transaction costs. While there are already Layer 2 solutions such as Arbitrum and Polygon networks, Ethereum developers are looking for blockchain solutions, hence the idea of "Merging".
The Ethereum Merge involves an upgrade from PoW to PoS mechanism, which also relates to the number of shares of ETH that holders trade online. In the last test, the developers tried a "Shadow Fork", a process that involves recreating what happens during an Ethereum Merger by starting and running several nodes.
Should I Invest in Ethereum at Such A Time?
At the time of writing, we can see from the international digital currency exchange Gate.io that the current price of ETH is $3,026, down 7.04% in 7 days, with a 24-hour volume of $15.49 billion.
In addition, Virgil Griffith, one of the Ether developers, was sentenced to 63 months in jail and fined $100,000 by the US for attending a cryptocurrency-related conference in Pyongyang, North Korea, recently and helping North Korea circumvent sanctions. The price of Ethereum has been hovering at $3,000 without a bigger breakthrough.
However, the rationale of buying low and selling high applies to financial investments as well as to the cryptocurrency market. The current price of Ethereum is in a downward phase, but there are still many people predicting that the price will rise to $3,500 in the second quarter of 2022 and buy Ethereum coins.
Will the Ethereum coin, which is currently at a turning point, really rise to this price? This is probably unknown. But the success and operation of the Ethereum Merger will have a significant impact on the Ethereum coin.
On April 13, Tim Beiko, the lead developer of Ether, announced on Twitter that the merger of Ether, which was scheduled to be completed in June this year, will be postponed. There is no exact completion time yet, but the project has entered the final chapter of PoW on Ethereum. This is another postponement of the Ethereum Merger in recent years.
The Upgrade of Ether from PoW to PoS Mechanism
One of the main problems with the Ethereum blockchain is energy consumption, which will also lead to high transaction costs. While there are already Layer 2 solutions such as Arbitrum and Polygon networks, Ethereum developers are looking for blockchain solutions, hence the idea of "Merging".
The Ethereum Merge involves an upgrade from PoW to PoS mechanism, which also relates to the number of shares of ETH that holders trade online. In the last test, the developers tried a "Shadow Fork", a process that involves recreating what happens during an Ethereum Merger by starting and running several nodes.
Should I Invest in Ethereum at Such A Time?
At the time of writing, we can see from the international digital currency exchange Gate.io that the current price of ETH is $3,026, down 7.04% in 7 days, with a 24-hour volume of $15.49 billion.
In addition, Virgil Griffith, one of the Ether developers, was sentenced to 63 months in jail and fined $100,000 by the US for attending a cryptocurrency-related conference in Pyongyang, North Korea, recently and helping North Korea circumvent sanctions. The price of Ethereum has been hovering at $3,000 without a bigger breakthrough.
However, the rationale of buying low and selling high applies to financial investments as well as to the cryptocurrency market. The current price of Ethereum is in a downward phase, but there are still many people predicting that the price will rise to $3,500 in the second quarter of 2022 and buy Ethereum coins.
Will the Ethereum coin, which is currently at a turning point, really rise to this price? This is probably unknown. But the success and operation of the Ethereum Merger will have a significant impact on the Ethereum coin.
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