A big Ethereum catalyst is coming this Wednesday. And it’s coming for ETH Bulls. Therefore, a massive shift is expected for the network. Ethereum (CCC:ETH-USD) fans mark your colanders. As such, it seems to be a major catalyst for ETH crypto prices.
No doubt, Ethereum network is one of the most expensive yet favorite network in the World. In fact active ETH users double to over 1 million in Q2 2020 and the numbers are consistently rising. Eventually, it better must handle massive amounts of transactions at once. If the network cannot accommodate such transactions, users will see fee skyrocket like they faced in August.
So, in order to handle the situation, network has to implement the upgrades. Like in past they did a shard upgrade. Now this is the peak time when the network is gearing up for it’s most ambitious upgrade yet.
A great catalyst is on it’s way
ETH crypto value is truly chasing BTC (CCC:BTC-USD). Hence, it must implement changes to help smooth the influx of users. This new upgrade will increase scalability.
What is Merge?
Ethereum is in the process of its Merge upgrade. Merge is a gigantic network overhaul, which will replace proof-of-work with a much less energy-intensive proof-of-stake model. The upgrade stands to eliminate one of the harshest criticisms — Ethereum’s rampant energy consumption. Meanwhile, it will allow the network to streamline its transaction process.
The Merge upgrade is a longtime coming, and it’s an ambitious effort. This Wednesday, Oct. 27, investors will get to see the first step in implementing the new technology on chain. That day, Ethereum will be launching its Altair upgrade.
For Ethereum users who aren’t validators of transactions, Altair will be unnoticeable. The upgrade will however force node operators to upgrade their clients or risk not being able to participate in the new algorithm; the network is even threatening those who refuse to upgrade with fee penalties.
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