Cryptoverse : Electric Ether Jumps on Verge of Merge

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Cryptoverse : – After several years of delays and delays, the “Merge” is almost certain to happen in September as the cryptography behind the blockchain going through a dramatic change to a system that it is possible to create new tokens for ether is significantly less energy-intensive ! 

Cryptoverse
Cryptoverse

Electric Ether Jumps on Verge of Merge 

“It’s an exciting period for Ethereum community,” said Omar Syed co-founder of the blockchain-based smart contracts platform Shardeum. “I believe there will be some drama around the Merge however, I’m not sure there are any technical issues.” Investors appear to be in agreement that ether has a better performance than its bigger bitcoin’s big brother !

Ether has experienced six weeks of gains that have pushed it from a one-half-year low of $880 in the middle of June to levels close to $2,000, despite being far from the November 2021 high of $4,868.79 ! Bitcoin is a tad sluggish in comparison after a 37% increase from the low of June to $24,116 ! 

According to Coin Market Cap, Ether is slowly reducing bitcoin’s market share. It now accounts for almost a fifth, 19.7%, of the $1.14 trillion crypto market capitalization. This is up from 14.9% just two months ago. Bitcoin’s share dropped from 44.9% to 40.2% in the same time period !

Alex Miller, CEO and founder of Hiro (which develops tools for developers to create bitcoin applications), stated that although crypto is still tightly coupled, it could also drive up the price ! If Ethereum’s creators succeed as is largely anticipated, it could be a game changer for the blockchain. It will make it easier to mine and more affordable to use for fintech apps !

The uncertain transition is not certain. Developers have delayed it several times. In June, developers pulled the button. Investors were worried that the button might not be pushed !

Cryptoverse
Cryptoverse

 

The Merge comes with risks. If it fails, the fortunes and $232 billion worth of ether in circulation could be at risk. Cryptoverse Hiro’s Miller stated that if the upgrade fails, it could “set the whole crypto world back five to 10 years.”

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