Ethereum (ETH) news as of 07/08/2022
This phase, called Sepolia, therefore paves the way for the implementation of the update on the last test network called Goerli, before the final launch that is planned later this year.
The merger should allow Ethereum to abandon the PoW consensus method, which is highly energy-intensive, for the PoS approach considered more ecological. This one Upgrade is being touted as a milestone that will mitigate virtually all criticism of the Ethereum network, including high transaction fees, low throughput, slow settlement times compared to newer blockchains.
While Ether, the native cryptocurrency of the Ethereum blockchain, has been impacted by the headwinds that have been blowing through the cryptocurrency market in recent weeks, the rollout of the update is seen as an opportunity to skyrocket the price. In the meantime, according to Trading Beasts, the price of ETH should not rise above $2,000 again before the end of 2022.
Ethereum (ETH) medium term price forecast
Below $1700, Ethereum is a good investment. Investors can aim for the 2021 highs around $4800.
Ethereum (ETH) Long Term Price Forecast
There is no doubt that Ethereum will appreciate in the long run. With the approval of the Proof of Stake (PoS) consensus mechanism, Ethereum will become more competitive and ETH could soar to $10,000 by the end of 2023.
Ethereum Project Reviews
Ethereum is the richest and most coveted DeFi ecosystem. It is central to blockchain technology and is an essential platform.
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What Affects the Value of Ethereum (ETH)?
- The success or failure of the Merge update.
- The fluctuations of the Bitcoin†
- Significant increase or decrease in gas costs (network costs)
What is Ethereum (ETH)?
Ethereum debuted in 2015, at the initiative of eight co-founders, including Vitalik Buterin (regarded as Inventor at Ethereum Foundation) and Charles Hoskinson (CEO of cardano Foundation). Ethereum is the name of the blockchain, whileEther (ETH) is the native crypto required to operate the network.
Ethereum is managed and tracked through a decentralized computer network. Technology has created a new financial sector: decentralized finance or DeFi, where the various players do not need a central regulatory body.
How does Ethereum work?
Ethereum is a complete blockchain development platform.
- crypto ether (ETH): You can transfer and receive Eher with a crypto wallet or use it to pay for goods and services from sellers. It is also an investment vehicle listed on almost all crypto exchanges.
- Smart contracts : They are a kind of automated programs that can place trades when the conditions are met.
- DApp : Ethereum makes it possible to create decentralized applications based on the blockchain: games, social network, trading platform, news site, etc.
- NFT : Ethereum hosts most of the NFTs created.
- Challenge : Ethereum opened up the voice of decentralized finance (DeFi): blockchain-secured P2P lending, loan pool, decentralized exchange based on liquidity pools, yield farming, etc.