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September 09, 2022, 09:38:02 AM |
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The blockchain of Ethereum coins is preparing for an upgrade. Since the beginning of the year, "Saturn Dasha" has been going on in the crypto currency sector. Bitcoin and Ether, the two biggest currencies in the crypto market, found the bottom of the decline going into mid-June. The price of Bitcoin, which touched the market value of 60 thousand dollars last year, fell to 17 thousand 601 dollars in the middle of June; And the price of Ether came down to 880 dollars.
But within this 'hard day', the creators and regulators of the Ethereum blockchain announced a major change in the data storage process, known in the market as a 'merge'. A month after hitting the bottom of the decline, the price of Ether has increased by 100%. The Bitcoin market is volatile again in the third week of August, despite a 31 percent increase in the price of Bitcoin during the same period.
The much awaited 'merge' is playing the biggest role behind the increase in the price of Ether in the crypto market. This is considered to be the biggest change to date for the Ethereum blockchain. In a 'merge', the entire blockchain will move from a so-called 'proof-of-work' system to a 'proof-of-stake' system. The alleged 'merger' is scheduled to take effect on September 15. Those concerned say that this will not only reduce the electricity consumption of the Ethereum network, but also increase the speed of the network.
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