Regarding the variations of the last 24 hours, Bitcoin was down 0.6% to $24,236, Ethereum was down 1.6% to $1,914.
It should be remembered that Ethereum soared up to 13% on Thursday after news of its merger was known, which propelled cryptocurrencies into a new rally. ETH successfully performed the latest test of the event known as “The Merge”.
What will happen to Ethereum?
Ansgar Dietrichs, a researcher at the Ethereum Foundation, said in a tweet that the most relevant metric for success when it comes to a test like this is looking at time to completion. He called it “another successful test.”
The merger of Ethereum (known in English as The Merge) with the Proof-of-Stake (PoS) consensus algorithm will take place on September 19, 2022. With the merger, the developers want to make the network more energy efficient.
Until now, Ethereum relied on PoW to confirm transactions and add new blocks to the chain. The problem with PoW is its high power consumption. In Proof of Stake there are no miners, there are validators.
In the case of Ethereum, validators have to acquire 32 ETH to participate in the verification process, confirm the block and receive the reward.
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Source: Ambito
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