The buzz around the release of Ethereum (ETH) Blockchain’s latest software update, Ethereum Merge, seems to be dying down, at present. While the prices of Ethereum went up by about 50 per cent in late July, when the developers revealed that September 19, 2022 was the tentative date for the release of Ethereum Merge, the prices have been subdued in the last few days.
As of August 3, 2022, Ethereum was trading at $1,609.44 at 8:00 am IST, down 0.04 per cent, according to Coinmarketcap data.
Though several enthusiasts are now raising questions about the efficacy of the Merge, some do believe that the new update can lead to Ethereum, the second largest crypto coin by market cap, posing massive competition to the market leader, Bitcoin (BTC).
What Is The Merge?
The current Ethereum Mainnet will soon merge with the Beacon Chain proof-of-stake system, according to information on Ethereum’s website. This will mark the end of proof-of-work for Ethereum.
“The Merge is the most significant...
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