Recent Ethereum News
What IS Ethereum?
Ethereum is a Proof-Of-Work (PoW) blockchain network built first hypothesized by notable cryptocurrency figure and ETH co-founder, Vitalik Buterin and colleagues in 2015. The network is responsible for bringing the concept of Smart Contracts to global popularity and implementation.
Ethereum is very popular for being a network on which Decentralized Applications (DApps) can be built and deployed, using an integration of Smart Contracts as the underlying programming language. Ethereum was officially launched in 2017, and recently announced the long-anticipated switch of its network protocol from PoW to a more energy efficient Proof-Of-Stake (PoS) consensus model.
The native token on the Ethereum blockchain network and ecosystem is known as Ether, which is related to its function as ‘gas’ needed to move along the network. Ether is referred to by its token ticker and well-known abbreviation, ETH. While there is no established maximum supply of ETH, the annual supply that can be minted is capped at 18 million ETH per year.
Recent Ethereum News In 2022
There has been a good deal to talk about in 2022, with regards to the Ethereum network and its robust global ecosystem. Updated Ethereum news suggests that information released pertaining to the merger may have come just in the nick of time for the suffering digital assets market.
Ethereum news about the ETH 2.0 merger would become a positive point for the entire crypto market in 2022. While the market suffered a massive downtrend, news of the merger was followed by rallies which were documented across ETH, BTC, and the entire cryptocurrency market generally.
Ethereum 2.0 Gives Provides Hope For The Entire Market
On July 15, 2022, Ethereum core developer and Foundation member, Tim Beiko announced that the ETH 2.0 merger was anticipated to officially begin live implementation on September 19. This massive Ethereum news seemed to set fire throughout the crypto community at large, as rallies were seen across the industry in the BTC economy, BNB, and others.
At the beginning of July, the price of one ETH was just above $1,000 at $1,040 exactly, and even dropped as low as $1,027 on the 13th. But after the news, despite persistent uncertainty in crypto and all global markets, Ethereum was able to surge to as much as $1,741 per ETH on July 28, with prices still remaining stable above $1,630 at the time of writing.