Vitalik Buterin predicts changes in the Ethereum rate after the transition to PoS
The blockchain’s co-founder noted that the real rally could start in 6-8 months after the change of the consensus algorithm
![Vitalik Buterin predicts changes in the Ethereum rate after the transition to PoS](https://storage.getblock.net/source/1/Nd-Sp_Pxe4jPsMVrHk098QEvY2_uivcs.webp)
28.07.2022 - 13:30
365
2 min
0
What’s new? Ethereum co-founder Vitalik Buterin said that the cryptocurrency market has not yet factored into the price of ETH the upcoming upgrade “The Merge,” which will see the network change its consensus algorithm from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The developer believes that the growth of the coin may not happen immediately, but “under the right set of conditions,” it can be expected in 6-8 months after the upgrade. He said this in a podcast on the YouTube channel Bankless.
Link to the YouTube channel Bankless
What is known about “The Merge”? Ethereum 2.0 is a major upgrade to the network, preparations for which began back in December 2020. It will change the algorithm from PoW to PoS, increasing the speed, efficiency, and scalability of the network. With it, the system will be able to provide an increased level of security and process more transactions. The way coins are earned on the network will change from mining to staking.
Buterin said that by the end of the roadmap for the network’s transition to PoS would see its scalability increase from 25 to 100 000 transactions per second (TPS). In addition, Ethereum issuance will be steadily decreasing going forward.
As of July 28, 13:50 UTC, ETH is trading at $1631, having gained 9,62% per day, according to Binance.
July 26 saw a record number of 1 066 898 active addresses on the Ethereum network. 961 196 wallets were cryptocurrency recipients and 259 442 addresses sent digital assets.
For more details on staking earnings and the prospects for cryptocurrencies on PoS, see GetBlock Magazine’s article.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024