The next Ethereum Merge will be in September: optimism grows around it

Similar to what happened with the Bitcoin halving a couple of years ago, the news of the next Merge from Ethereum raises optimism regarding this coin in most investor circles. Unlike so-called digital gold, Ethereum has currently gained a lot of value and has regained much of the value it lost in the recent crypto market crash, hovering around $1,500 per token and rising.

On platforms like Margex, (a space where you can buy cryptocurrencies and invest in various investment models, including the Margex cryptocurrency futures trading) Ethereum has become very important, and has positioned itself as one of the cryptocurrencies with the best short-term forecasts, while Bitcoin has not yet found the necessary momentum to start its long-awaited recovery.

What is the Ethereum Merge?

This is one of the most important updates to date of the Ethereum blockchain, the Merge or Fusion, basically means that the entire algorithm is going to transform, allowing the cryptocurrency to be much more efficient. Until now, Ethereum has used the so-called proof of work or Proof of Work in its mining process, a practice that uses too much energy and that, in countries like China, where most of the electricity comes from the burning of coal and fossil fuels. fossil because it is the cheapest available, enormous pollution is generated.

Starting September 19However, the mining model will change to give way to Proof of Stake, which uses more energy efficient components. The main difference is that the Proof of Work uses the graphics card to mine cryptocurrencies, wasting much of that energy in heat, while the Proof of Stake would use the space of SSD-type hard drives, which use much less energy and generate a lot. less heat, especially if they are properly cooled, which is not nearly as difficult as cooling a graphics card.

Ethereum returns to the charge

This upcoming event injected a dose of optimism into the market causing Ethereum to skyrocket in July, recovering a large amount of fiat money in market capitalization and causing thousands of investors to even switch from other cryptocurrencies to Ether. . In direct comparison, Bitcoin has not announced that its algorithm will go Proof of Stake at some point in the near future, while the Ethereum Merge is just around the corner.

This has suddenly made Ether much more profitable than most so-called “Altcoins”, which is already saying a lot, since many of these alternative cryptocurrencies to Bitcoin use the same Ethereum network to host their servers. That is why the growth of this cryptocurrency is expected to continue in the coming months and to increase even more after the Merge becomes effective. This will be accompanied by a migration of miners to Ether and possibly imply an increase in the price of SSD hard drives in the short term.

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