What merge of Ethereum blockchain means for cryptocurrencies?
Known as the Merge, Ethereum’s revamp will make it vastly more energy efficient and over time pave the way for it to scale up and become quicker, according to the network’s developers. In a note, he said Ether could top $3,000 by the end of this year and possibly achieve the so-called “flippening” in time, referring to the idea that its market value might overtake Bitcoin’s, reported Bloomberg. The PoW system of mining cryptocurrencies, used by tokens like Bitcoin, allows all miners to lend computing power to validate crypto transactions, and hence draws a lot of computing power. Cryptocurrencies traded in tight ranges on Thursday as the clock ticked down to a major software upgrade of Ethereum, the most commercially important blockchain in the digital-asset sector.
Ethereum Classic rallies 30%, ether’s price jumps 16%. What’s driving the surge?
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