Ethereum (ETH) news as of 07/08/2022
This stage, called Sepolia, therefore paves the way for the update to be deployed on the last test network called Goerli, before the final launch scheduled for later this year.
The Merge should allow Ethereum to abandon the PoW consensus method, which is very energy-intensive, for the PoS approach deemed more ecological. This Upgrade is touted as a milestone that will mitigate virtually all of the criticism leveled at the Ethereum network, including high transaction fees, low throughput, slow settlement times compared to newer blockchains.
While Ether, the native cryptocurrency of the Ethereum blockchain, has been impacted by the headwinds that have blown through the cryptocurrency market in recent weeks, the rollout of the update is seen as potentially allowing its price to skyrocket. In the meantime, according to Trading Beasts, the price of ETH should not exceed $2000 again before the end of 2022.
Medium Term Ethereum (ETH) Price Prediction
Below $1700, Ethereum is a good investment. Investors can aim for the 2021 highs at around $4800.
Ethereum (ETH) Long Term Price Prediction
There is no doubt that Ethereum will appreciate in the long term. With the adoption of the Proof of Stake (PoS) consensus mechanism, Ethereum is becoming more competitive and ETH may well rally to $10,000 by the end of 2023.
Ethereum Project Reviews
Ethereum is the richest and most coveted DeFi ecosystem. It is at the center of blockchain technology and an essential platform.
Read also Do you have Solana (SOL) in your Wallet? Watch out for these 3 cryptos that could overtake it in adoption
What affects the value of Ethereum (ETH)?
- The success or not of the Merge update.
- The fluctuations of the Bitcoin.
- Significant increase or decrease in gas costs (network costs)
What is Ethereum (ETH)?
Ethereum debuted in 2015, at the initiative of eight co-founders, including Vitalik Buterin (considered Inventor at Ethereum Foundation) and Charles Hoskinson (CEO of Cardano Foundation). Ethereum is the name of the blockchain, whileEther (ETH) is the native crypto needed to use the network.
Ethereum is managed and tracked through a decentralized computer network. Its technology has created a new sector of finance: decentralized finance or DeFi, in which the various players do not need a central regulatory authority.
How does Ethereum work?
Ethereum is a complete blockchain development platform.
- Crypto Ether (ETH): You can transfer and receive Eher using a crypto wallet or use it to pay for goods and services from merchants. It is also an investment instrument listed on almost all crypto exchanges.
- Smart contracts : they are a kind of automated programs that can place trades when conditions are met.
- DApp : Ethereum makes it possible to create decentralized applications based on the blockchain: games, social network, trading platform, news site, etc.
- NFT : Ethereum hosts the largest part of the NFTs created.
- Challenge : Ethereum opened the voice of decentralized finance (DeFi): blockchain-secured P2P lending, lending pool, decentralized exchange based on liquidity pools, yield farming, etc.