Ether Is About To Flip Bitcoin?

Ethereum is about to get an upgrade, its migration from proof-of-work to proof-of-stake mechanism. The ethereum blockchain will merge with the beacon chain which will mark the end of proof-of-work for Ethereum, and the full transition to proof-of-stake. This is planned to precede the roll out of shard chains.

The whole process termed as "The Merge" by the Ethereum team will signal the end of proof-of-work for Ethereum and start the era of a more sustainable, eco-friendly Ethereum. At this point Ethereum will be one step closer to achieving the full scale, security and sustainability outlined in its Ethereum Vision.

Excitement has started to built up around this upgrade and the price of Ether(ETH) has started moving upwards. The bullish sentiment is also due to the fact that the team has successfully tested the shift and it estimated the price of energy consumption by Ethereum network will drop by more than 90% . It will also make the network more scalable and more faster thereby attracting more institutional investors.

Earlier, the exorbitantly high fees of transaction within the ethereum network has created many difficulties for its users, with this upgrade the fees will be reduced drastically promoting greater adoption of the network.