The price of Ether (ETH) has been in a downward spiral ever since Ethereum co-founder Vitalik Buterin presented at StartmeupHK Festival 2021. In a fireside chat session on May 27, Vitalik stated that several internal team conflicts caused the proof-of-stake migration to delay its launch. As reported by Cointelegraph, "Phase One," which introduces scalability through sharding, has been postponed to 2022. Furthermore, DeFi’s inherently decentralized nature might not be entirely beneficial because the sharding-style processing would need to run transactions through a relay chain. It’s impossible to pinpoint the reason behind Ether’s sharp fall from its all-time high, but the …
The Ethereum (ETH) 2.0 proof-of-stake (PoS) transition will not take place until 2021, the CEO of crypto analytics firm Messari predicted at a panel of ConsenSys’ Ethereal Summit on May 10. During the panel titled “The Smart Contract War Is Coming,” Messari’s Ryan Selkis pointed out major risks associated with Ethereum’s migration from a proof-of-work (PoW) to a PoS consensus algorithm, arguing that PoS systems “are not proven to work.” According to Selkis, the currently PoW consensus algorithm of ethereum 1.x, is “probably pretty good, and maybe even good enough.” The expert elaborated that the algorithm is well-established, having proven …
Ethereum (ETH) and decentralized finance (DeFi) are undergoing a seismic shift as the transition to Eth2 and a proof-of-stake consensus mechanism is helping to increase the value proposition for the network which has historically has been plagued with scaling issues and high transaction costs. Alongside this transition has been the introduction of liquid staking, which is helping to add utility to DeFi and giving investors the option to do more with their assets than just lock them up indefinitely. Liquid staking could also help investors build more capital efficient portfolios. One protocol that has benefited from the shift toward liquid …
The rollout of Ethereum 2.0, or Eth2, includes a transition from proof-of-work to proof-of-stake that will supposedly transform Ether (ETH) into a deflationary asset and revolutionize the entire network. The event has been a trending topic for years and while anticipation for “The Merge” has been building over the past couple of months, this week Ethereum core developer Tim Beiko informed the world that “It won’t be June, but likely in the few months after. No firm date yet.” Delays in Ethereum network upgrades are nothing new and so far, the immediate effect on Ether’s price following the revelation has …
The Ethereum network moved one step closer to completing its transition to proof-of-stake (PoS) this week after the successful completion of its second-to-last major Merge trial on the Sepolia public test network. Data from Cointelegraph Markets Pro and TradingView shows that following the Sepolia Merge on July 6, the price of Ether (ETH) rallied to a high near $1,280 on July 8 but has since trended down to hit a daily low of 1,153 on July 10. With the Ethereum network nearing the home stretch in its shift to PoS, here is what analysts are saying could happen with its …