Ethereum, also known as #ETH coin is the second largest crypto token in the market. As per the market news, The blockchain will conduct a great change to their ecosystem on or around 15th September, 2022 – according to source, this change will be from PoW (Proof of Work) to PoS (Proof of Stake).
The whole Vitalik Buterin founded ‘Eth’ team called and named this as “The Ethereum Merge”. This merge will make the coin more efficient. Many crypto investors predicted that this mega event can make Ethereum blockchain and its products’ price higher.
As per today, 24th Aug, 2022, one ethereum coin valued almost $1655.54 (when this article was written). And it seems to have a green graph in August and September.
What is Ethereum Merge?
The Ethereum coin was operating in a PoW blockchain from July, 2015. So, the merge will be a transition from a chain to another chain of different working mechanisms.
Though traders, investors like you and us can not see any big changes with our open eyes. Still, if you look deep and research hard about PoS blockchain, you’ll find out why this merge really matters in Ethereum price.
After the merge, Etherem will not depend on Ethereum miners for any transactions. Rather, it will depend on its own validators.
At Ethereum 2.0 contract, there are more than 416000 validators (at the time of writing).
Why is Ethereum merge important?
Developers gave six important reasons why this merge is a big event for blockchain technology.
Most used term among those six is, PoS blockchain is more ‘energy efficient’. Also developers showed that the technology will require ‘less hardware requirements’. To create a new block on this chain will not be tough after the merge.
Presently, Ethereum is being run on a “Beacon change” which is constantly running parallel to the PoW chain currently. After the merge, the whole thing will be transitioned to the new PoS chain.
Ethereum Price Prediction After The Merge
However, Ethereum is being rejected by $2000 repeatedly, investors are hoping a bearish market in mid September.
The merge will be a mega event for this coin and relative coins on this blockchain. Community is hopeful about the price prediction.
According to researches, Ethereum can be traded at between $2100 to $2200 after the merge.
Though some investor also predicted that “Ethereum Merge” will help the coin to become a great Institutional asset.