• Home
  • Bitcoin
  • Crypto
  • Altcoins
  • NFT
  • Defi
  • Ripple
  • Ethereum
What's Hot

Solana’s staking metric has some good news for SOL holders

October 8, 2022

Binance Coin: How BNB buyers can capitalize on this breakout rally

October 8, 2022

Crypto Analyst Issues Warning to Traders on Binance Coin (BNB), Predicts Timeline for Ethereum’s Next Big Move

October 7, 2022
Facebook Twitter Instagram
  • Home
  • Bitcoin

    Bitcoin price has hit bottom; coldest days of Crypto Winter are over – Ran Neuner and Steven Sidley

    August 21, 2022

    Uniswap Blocked 253 Crypto Addresses, Here’s Why

    August 21, 2022

    Runfy and Decentraland – Crypto Projects That Deliver Unique Blockchain-Based Services To Their Users

    August 20, 2022

    Hackers steal crypto from Bitcoin ATMs by exploiting zero-day bug

    August 20, 2022

    Why Bitcoin traders holding long positions may expect BTC’s downfall to be short-lived

    August 20, 2022
  • Crypto

    Why Bitcoin Is Digital Real Estate – Bitcoin Magazine

    August 21, 2022

    Bitcoin [BTC] traders must sit tight without expecting short-term gains because…

    August 21, 2022

    FDIC Issues Crypto-Related Cease and Desist Orders to 5 Companies Including FTX US Exchange – Regulation Bitcoin News

    August 21, 2022

    The Most Profitable Buy Signal In Bitcoin Just Triggered

    August 20, 2022

    3 reasons why the Bitcoin price bottom is not in

    August 20, 2022
  • Altcoins

    Solana’s staking metric has some good news for SOL holders

    October 8, 2022

    Binance Coin: How BNB buyers can capitalize on this breakout rally

    October 8, 2022

    Crypto Analyst Issues Warning to Traders on Binance Coin (BNB), Predicts Timeline for Ethereum’s Next Big Move

    October 7, 2022

    Crypto Price Today: Bitcoin barely holds $20,000 mark; altcoins trade lower

    October 7, 2022

    3 Altcoins that could be profitable: Cardano, Avalanche & Big Eyes Coin

    October 7, 2022
  • NFT

    Liquidation Fears Mount as BAYC NFTs Floor Price Drops

    August 21, 2022

    Service by NFTs, Disclosure Orders Against Crypto Exchanges, and Potential Constructive Trustee Liability

    August 21, 2022

    What are They and Why are They So Popular?

    August 21, 2022

    How NFTs are giving everyone the chance to be an art collector

    August 21, 2022

    VeeFriends Drop Surprise NFTs: Iconics With Gilang Bogy

    August 21, 2022
  • Defi

    Top Three DeFi Cryptocurrency To Buy Now – Solana, Uniswap, and HachiFi

    August 22, 2022

    Meet the Sleuthing Firm Helping DeFi Projects Stay Compliant With Tornado Cash Sanctions

    August 21, 2022

    KyberSwap Integrating Chainlink Price Feeds for DAO and DeFi

    August 21, 2022

    Africa fintech and crypto leaders to connect in Ghana-1

    August 21, 2022

    Stellar-Based DeFi Lumenswap (LSP) Activates Smart Order Routing System. Why Is This Important?

    August 21, 2022
  • Ripple

    Ukraine: Six months in, IFRC warns of ripple effects and mounting humanitarian needs

    August 23, 2022

    Ripple to Pakistani Rupee on August 23, 2022

    August 23, 2022

    Crikey’s Lachlan Murdoch move ripples around the world

    August 23, 2022

    Beware the ripple effects from Europe’s new energy crisis and China’s economic slowdown

    August 23, 2022

    Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Knife Catching 102

    August 22, 2022
  • Ethereum

    SWIFT considered ‘neutral’ on sanctions; debate sparked on whether Ethereum is the same

    August 22, 2022

    Ronin Hackers Move The Stolen Ethereum And Bitcoin Using Mixers

    August 22, 2022

    Ethereum Classic’s hashrate reached an all-time high, should you buy ETC?

    August 22, 2022

    Crypto markets scramble for recovery before the next crash

    August 22, 2022

    Ethereum Killers Avalanche, BNB Set to Soar More Than 112%, Could Proprivex Follow Suit?

    August 22, 2022
Facebook Twitter Instagram
Crypto Investment Watch
  • Home
  • Bitcoin

    Bitcoin price has hit bottom; coldest days of Crypto Winter are over – Ran Neuner and Steven Sidley

    August 21, 2022

    Uniswap Blocked 253 Crypto Addresses, Here’s Why

    August 21, 2022

    Runfy and Decentraland – Crypto Projects That Deliver Unique Blockchain-Based Services To Their Users

    August 20, 2022

    Hackers steal crypto from Bitcoin ATMs by exploiting zero-day bug

    August 20, 2022

    Why Bitcoin traders holding long positions may expect BTC’s downfall to be short-lived

    August 20, 2022
  • Crypto

    Why Bitcoin Is Digital Real Estate – Bitcoin Magazine

    August 21, 2022

    Bitcoin [BTC] traders must sit tight without expecting short-term gains because…

    August 21, 2022

    FDIC Issues Crypto-Related Cease and Desist Orders to 5 Companies Including FTX US Exchange – Regulation Bitcoin News

    August 21, 2022

    The Most Profitable Buy Signal In Bitcoin Just Triggered

    August 20, 2022

    3 reasons why the Bitcoin price bottom is not in

    August 20, 2022
  • Altcoins

    Solana’s staking metric has some good news for SOL holders

    October 8, 2022

    Binance Coin: How BNB buyers can capitalize on this breakout rally

    October 8, 2022

    Crypto Analyst Issues Warning to Traders on Binance Coin (BNB), Predicts Timeline for Ethereum’s Next Big Move

    October 7, 2022

    Crypto Price Today: Bitcoin barely holds $20,000 mark; altcoins trade lower

    October 7, 2022

    3 Altcoins that could be profitable: Cardano, Avalanche & Big Eyes Coin

    October 7, 2022
  • NFT

    Liquidation Fears Mount as BAYC NFTs Floor Price Drops

    August 21, 2022

    Service by NFTs, Disclosure Orders Against Crypto Exchanges, and Potential Constructive Trustee Liability

    August 21, 2022

    What are They and Why are They So Popular?

    August 21, 2022

    How NFTs are giving everyone the chance to be an art collector

    August 21, 2022

    VeeFriends Drop Surprise NFTs: Iconics With Gilang Bogy

    August 21, 2022
  • Defi

    Top Three DeFi Cryptocurrency To Buy Now – Solana, Uniswap, and HachiFi

    August 22, 2022

    Meet the Sleuthing Firm Helping DeFi Projects Stay Compliant With Tornado Cash Sanctions

    August 21, 2022

    KyberSwap Integrating Chainlink Price Feeds for DAO and DeFi

    August 21, 2022

    Africa fintech and crypto leaders to connect in Ghana-1

    August 21, 2022

    Stellar-Based DeFi Lumenswap (LSP) Activates Smart Order Routing System. Why Is This Important?

    August 21, 2022
  • Ripple

    Ukraine: Six months in, IFRC warns of ripple effects and mounting humanitarian needs

    August 23, 2022

    Ripple to Pakistani Rupee on August 23, 2022

    August 23, 2022

    Crikey’s Lachlan Murdoch move ripples around the world

    August 23, 2022

    Beware the ripple effects from Europe’s new energy crisis and China’s economic slowdown

    August 23, 2022

    Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Knife Catching 102

    August 22, 2022
  • Ethereum

    SWIFT considered ‘neutral’ on sanctions; debate sparked on whether Ethereum is the same

    August 22, 2022

    Ronin Hackers Move The Stolen Ethereum And Bitcoin Using Mixers

    August 22, 2022

    Ethereum Classic’s hashrate reached an all-time high, should you buy ETC?

    August 22, 2022

    Crypto markets scramble for recovery before the next crash

    August 22, 2022

    Ethereum Killers Avalanche, BNB Set to Soar More Than 112%, Could Proprivex Follow Suit?

    August 22, 2022
Crypto Investment Watch
Home»Eheterum»Prices of Ethereum’s original coin ETH soar as miners migrate ahead of Merge
GettyImages-1238626651-e1659100827632.jpg
Eheterum

Prices of Ethereum’s original coin ETH soar as miners migrate ahead of Merge

adminBy adminJuly 30, 2022No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Over the past two weeks, Ethereum’s popular ETH coin has nearly halved as confidence grows about switching, or “merging,” to a leaner, more efficient blockchain technology called Proof of Stake. rice field.

But that benefit pales in comparison to the sudden surge of interest in another long-forgotten option from the beginning of Ethereum’s history.

A type of illegitimate child born in 2016, ETC tripled in value over the same period, nearly surpassing its last high in March, according to CoinGecko data.

Its price spike really started last week after Ethereum founder Vitalik Buterin advised users and developers to go back to the original creation if they were unsatisfied with the upcoming Merge.

“It’s a very welcoming community,” Buterin said at the Paris conference. “If you like proof of work, you should go with Ethereum Classic.

ETC arose from the so-called DAO hack of the Ethereum network, where $60 million was successfully stolen from a decentralized autonomous organization just one year after Buterin’s creation was first made public in July 2015.

A vote was taken by DAO users responsible for governance decisions, with a majority in favor of a “hard fork” of the chain to reclaim stolen money to investors.

The decision was so controversial that another part of the community refused to cooperate, instead continuing with the original chain known as Ethereum Classic and its native currency, ETC.

Buterin’s comments are helping to rekindle interest in ETC cryptocurrencies among miners who have struggled in the recent ETH crash, most of whom face virtually losing their income entirely. .

The reason is that when Ethereum, the second most popular blockchain after Bitcoin, switches to a faster and more efficient technology as part of Merge, which is tentatively scheduled for September 19, mining will continue to grow. This is because the service is no longer needed.

Replacing them are stakers who take on the task of maintaining the security of untrusted payment networks.

Faced with an imminent loss of business, mining pool AntPool pledged on Tuesday to invest $10 million to support further development of the now independently operated Ethereum Classic.

Mining vs. Staking

To understand the difference between miners and stakers, it is important to first understand the underlying technology.

Financial transactions typically require a trusted counterparty, such as a bank, to allow both sides of the exchange to achieve the objectives of the transaction before the transaction can be cleared and credited or debited from an account.

However, cryptocurrencies change ownership completely without permission. Complete strangers can use anonymous wallets to buy and sell coins without fear of being shortchanged.

This is because assets like Bitcoin operate using a shared ledger of transactions distributed to everyone interested in maintaining the network. Business is recorded in the form of blocks on the chain, and miners are paid newly created bitcoins as an incentive to validate each of these immutable entries.

This majority consensus mechanism is known as Proof of Work (PoW) and requires an enormous amount of computing power to keep each miner’s copy of the ledger up to date.

Bitcoin’s network prioritized security and decentralization above all else, so it needed enough power to power a small country, and could only process transactions at a snail’s pace by today’s standards.

Will Ethereum Miners Fork or Move to Ethereum Classic?

— Dennis Porter (@Dennis_Porter_) July 26, 2022

Therefore, new types of blockchain technology such as Solana have emerged. It takes the exact opposite approach, using what’s known as Proof of Stake (PoS) to improve energy efficiency and scalability, and achieve speeds similar to credit card giant Visa.

Instead of verifying transactions by someone willing to set aside computing power as a mining rig, people wager a certain amount of their holdings, much like a security deposit.

The downside of this solution is that it puts more influence in the hands of a small, select number of people who stand to benefit from being the only ones who can earn blockchain rewards by maintaining the network. It is the concentration of power.

However, there are penalties to keep the system from being abused. In the event of a deliberately staged or negligently authorized attack, staked crypto may be partially or wholly forfeited.

Ethereum is currently in the process of switching from PoW to so-called beacon chains that are currently running in parallel using PoS. Validators who want to win cryptocurrencies must first agree to lock 32 ETH (approximately $55,000 in present value).

Miners who are unwilling or unable to do so can switch to Ethereum Classic.

“They will definitely welcome Proof of Work fans,” Buterin said.

sign up for luck We have a mailing list so you don’t miss out on our biggest features, exclusive interviews and surveys.

ahead Coin ETH Ethereums Merge migrate Miners Original prices Soar
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
admin
admin
  • Website

Related Posts

Binance Coin: How BNB buyers can capitalize on this breakout rally

October 8, 2022

Crypto Analyst Issues Warning to Traders on Binance Coin (BNB), Predicts Timeline for Ethereum’s Next Big Move

October 7, 2022

3 Altcoins that could be profitable: Cardano, Avalanche & Big Eyes Coin

October 7, 2022

Promising Altcoins that could Explode in 2022: Big Eyes Coin, Polkadot And XRP

October 6, 2022
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Advertisement
Demo

Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

Solana’s staking metric has some good news for SOL holders

October 8, 2022

Binance Coin: How BNB buyers can capitalize on this breakout rally

October 8, 2022

Crypto Analyst Issues Warning to Traders on Binance Coin (BNB), Predicts Timeline for Ethereum’s Next Big Move

October 7, 2022
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram Pinterest
© 2023 Crypto Investment Watch.

Type above and press Enter to search. Press Esc to cancel.