TECH

Ether above the $2100 psychological mark

Ethereum seems to benefit from the recovery of the crypto market. The share price is up about 10 percent. The Ether token is now trading above the $2,100 psychological barrier.

The increase in price is partly due to the important Shanghai update, better known as Shapella.

The Shapella upgrade marks the move from Proof-of-Work to Proof-of-Stake. Proof-of-Stake is the validation of transactions and the creation of blocks on the blockchain through the use of cryptocurrencies. With Proof-of-Work, transactions are validated through computer power. The promise is therefore that Ethereum is faster than Bitcoin.

The upgrade will enable withdrawals for users who have staked their ether (ETH) to secure and validate transactions on the blockchain.

The question is whether the price will remain high. Cryptocurrencies have benefited from the turmoil in the banking market in recent weeks. but the crisis seems to be under control again.

Source: Nieuws–Emerce