Ethereum Tests $1500 Amid Successful Deployment of Tenth 'Shadow Fork'
Categories: Crypto News US
Ethereum Tests $1500 Amid Successful Deployment of Tenth 'Shadow Fork'
Ethereum's 10th 'shadow fork' took effect this week as the network continues to run tests ahead of the much-anticipated transition from an energy-intensive proof-of-work consensus mechanism to proof-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 shadow forks that copy data from the mainnet to the testnet.
ETH Price Volatility Since Merge Announcement
ETH Price Fluctuations Since the Merge Announcement After changing the merge timeline several times over the past two years, Ethereum's core developers announced earlier this month that the merge would take place on September 19th. As a direct result, the price of ETH increased by almost 50 percent. The merger, slated for next month, will introduce a process in which holders of at least 32 ETH can pledge their existing ETH to make more.
The Ethereum Foundation predicts that the proof-of-stake model will make the network up to 99 percent more eco-friendly. Since Shadow Fork #10 was deployed on July 26, no significant disturbances have been reported. At the time of writing, the price of ETH had experienced significant volatility over the past 24 hours, ranging from US$1,362.95 to US$1,602.61.