Ethereum Financial News

A long-awaited software upgrade to the Ethereum blockchain aimed at slashing its huge energy consumption is expected this week, a move proponents say may widen the technology's use and support the price of the ether token.

The world’s second-largest cryptocurrency is undergoing a significant transformation that will change its technology to cut carbon emissions by more than 99 per cent, according to its platform Ethereum.

The central bank of Norway has hit a major milestone in digital currency efforts, releasing the open source code for the country’s central bank digital currency (CBDC) sandbox.

Bitcoin (BTC) starts a pivotal week on a firm footing as bulls succeed in wiping out weeks of losses.

Scott Chipolina in London At the Blockchain Futurist Conference in Toronto in early August, Ethereum co-founder Vitalik Buterin stood before an excitable audience to deliver some big news. “The Merge is coming,” he told the crowd, “this effort that we have been working on for basically the last eight years . . . Ethereum will finally become a proof-of-stake system . . . Yay!” The audience cheered.

Ethereum's much awaited software update named 'The Merge' is just a few hours away, which will shift its mechanism to proof-of-stake (PoS) from existing proof-of-work (PoW). The Merge has attracted numerous headlines, hogged ample limelight, philosophical debates about the future of Ethereum and multiple technical analysts, but one can not look past the energy efficient mechanism after the update. According to the Ethereum Foundation, PoS will cut Ethereum’s energy usage by around 99.95 per cent. The foundation is a non-profit organization that funds Ethereum ecosystem development. PoS advocates also argue that PoW mining centralizes control in the hands of those who can afford to buy fancy crypto mining rigs, called ASICs. It is also argued that PoS is a less battle-tested system than PoW.

As a sign of support for the upcoming Ethereum Merge, tech juggernaut Google is marking the time left until the upgrade with a new countdown timer. 

Despite the Ethereum Merge being touted as a major upgrade to the blockchain network, its transition to proof-of-stake theoretically makes it more vulnerable to exploit.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

Optimism’s OP was not left behind as the rest of the market registered double-digit price upticks over the past week. In fact, according to CoinMarketCap, the price of the Layer 2 (L2) token rallied by 16% over the last seven days. 

The euphoria around meme-based cryptocurrency Shiba Inu has translated into a rapid surge in accumulation recently. The number of SHIB holders has now hit an all-time high after peaking at 1.22 million. This historic peak comes after a period of strong accumulation of late. There has also been a hike in whale holdings as strong bullish signals were sent across the crypto-industry for Shiba Inu.

In recent years, nonfungible tokens (NFTs), cryptocurrencies and other modern investment options have become trendy. However, physical commodities such as gold are still in high demand. In 2021, the global market capitalization for cryptocurrency surpassed $2 trillion. Now, investors must ask themselves: which option should I choose — crypto or gold?

Ravencoin recently topped the table by becoming one of the market’s top gainers. In fact, it recorded a hike of over 83% in the last seven days. Needless to say, this excited many in the community, thanks to which, the crypto was soon ranking on the social volume front too. 

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Ethereum [ETH] is facing issue after issue with the Merge just round-the-corner now. This time the issue is with ETH miners. There is a group among miners who believe the transition to Proof-of-Stake (PoS) can prove hazardous for them.

Ethereum [ETH] co-founder Vitalik Buterin and Ethereum Name Service [ENS] developers are at loggerheads due to the newly proposed pricing arrangements. On 9 September, Vitalik published a post via his ENS website, asking if the domains should follow a recurring pricing structure.

Bitcoin [BTC]‘s ever-dominating rise in the spot market (market cap) has left all rivals behind by a margin. Ethereum [ETH], the closest rival still has miles and miles to go before it could catch up with the king coin.

The Ethereum Beacon chain is a ledger of accounts that conducts and coordinates the network of stakers. It was designed to replace proof-of-work (PoW) mining on the current Ethereum Mainnet.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject