The new upgrade that’s coming to Ethereum has been making a lot of waves in the crypto space. Check out the latest reports about the upcoming upgrade below.
Ethereum upgrade new data is out
It’s been just revealed that the co-founder of a prominent crypto data aggregator is predicting the emergence of new Ethereum (ETH) hard forks. This is happening the leading smart contract platform gears up for its much-anticipated upgrade.
CoinGecko executive Bobby Ong said recently that Ethereum’s current miners are motivated to create a new proof-of-work (PoW) version of ETH once the digital asset transitions to a proof-of-stake consensus mechanism. Just to refresh your memory, this is scheduled to happen in about a week.
It’s important to mention the fact that Ethereum is going through an upgrade where it will transition from proof of work to proof of stake. Following the transition, ETH miners can no longer mine. Miners are forking ETH to keep a PoW version so they can continue mining.”
According to Ong, the new ETH PoW forks will likely airdrop tokens to current Ethereum holders.
“The Ethereum Merge is scheduled to take place on 13th September. Christmas season is here again. ETH holders will soon be airdropped ETH PoW tokens.”
Ong also explained that based on Bitcoin’s (BTC) history of hard forks, it is within the realm of possibility that more than one ETH PoW fork could pop up.
“We have about [six] days to go to the Merge. I think many markets and protocols will get volatile, messy, and complex especially in the hours before/after Merge. One or more ETH PoW forks may show up. Dug up our old 2017 crypto report on Bitcoin forks and found this.”
Reharding ETH’s price today, at the moment of writing this article, ETH is trading in the red and the coin is priced at $1,636.