One of the news which feeds more and more talks is the Ethereum update.
Currently the cryptocoin created from Vitalik Buterin is laying on the Proof of Work, the same consensus protocol of Bitcoin.
The update would grant a “flippening”, it means the overtaking of Bitcoin in terms of market capitalization.
Ethereum vision is fully based on the “Greenishization” of the coin which would be allowed from the merge between the chain EH1 with a new chain to create EH2.
EH2 would grant a cheaper way to mine coins, quick and green. Consequently, it would be more adopted from classical finance for its Decentralized Applications.
Ethereum’s switch from the Proof of Work to the Proof of Stake was expected for June 2022 but it has been postponed (again) with a promise that it will happen within the 2022.
For Brendan Playford, CEO of Masa Finance, it seems reasonable that the update will be postponed again due to the fact that this merge (never did before) is much more difficult than expected and Eth team is not fully sure that it will cut cost and increase speed transactions.
Beiko in a tweet answered to Brendan saying that the merge will not take place in June, for sure, but the team is closer
Ether in the meanwhile slipped by 8% from 3,215$ to 2,947$ (after Beiko’s twitter announcement that june launch had been postponed).
Only in the last month Eth lost around 13%
The Market Cap of Ether is around 363 billions of dollars, less than half of Bitcoin’s.
Investment funds are betting a lot on Ethereum thanks to the merger that will come soon.
At press time ETH/USD is up by 0.89% trading at 2,925.54.
