Ethereum Tests $1500 Amid Successful Deployment of Tenth 'Shadow Fork'
Categories: Crypto News US
EthereumTests $1500 Amid Successful Deployment of Tenth 'Shadow Fork'
Etherem's 10th 'shadow fork' took effect thisweek as the network continues to run tests ahead of the much-anticipatedtransition from an energy-intensive proof-of-work consensus mechanism toproof-of-stake. As part of preparation for the third and final testnet merge,Goerly, now expected on August 10, Ethereum is undergoing a series of shadowforks that copy data from the mainnet to the testnet.
ETH PriceVolatility Since Merger Announcement
After shifting the timeline for the merge several times overthe past two years, Ethereum's core developers announced earlier this month thatthe merge would take place on September 19. As a direct result, the price of ETHincreased by almost 50%. The merger, slated for next month, willintroduce a process in which holders of at least 32 ETH can pledge theirexisting ETH to make more.
The Ethereum Foundation predicts that the proof-of-stakemodel will make the network up to 99 percent more eco-friendly. Since ShadowFork #10 was deployed on July 26, no significant disturbances have beenreported. At the time of writing, the price of ETH had experienced significantvolatility over the past 24 hours, ranging from US$1,362.95 to US$1,602.61.