Ethereum draws closer to PoS as Devs successfully deploy Ropsten to Beacon chain

The second-largest blockchain Ethereum has gotten a step closer to transitioning to a proof-of-stake (PoS) consensus mechanism as the core developers successfully merged the network's Ropsten testnet to the Beacon chain late Wednesday.  Ropsten initially launched in 2016, and it's currently the oldest testnet on Ethereum.

Timeline of Ethereum

The Ropsten Merge is a crucial step that must be taken before making Ethereum's transition to the Consensus Layer- also known as ETH 2.0- this August. For instance, it gives developers the review of how things will look in the future, after its complete transition to a less energy-intensive PoS algorithm mechanism. The successful transition …

Ethereum took one of the biggest steps towards activating proof-of-stake (PoS) this Wednesday by successfully deploying the Merge on the Ropsten testnet. The Merge is one of the critical components of the consensus layer upgrade, previously known as “Ethereum 2.0.

A closely followed veteran crypto trader thinks Ethereum (ETH) could drop lower to $1,268 before rebounding back up. Peter Brand tells his 647,800 Twitter followers ETH may be in a descending triangle, a pattern indicative of further downside risk for the second-largest cryptocurrency by market capitalization. Brandt first mentioned the possible descending triangle last week, The post Veteran Trader Peter Brandt Unveils Big Downside Target for Ethereum in New ETH Forecast Update appeared first on The Daily Hodl.

On a historic day in the history of Ethereum, the network's oldest testnet Ropsten was able to complete “The Merge”. According to core developer Tim Beiko, the testnet has begun including blocks and operational.

Key takeaways: Ethereum developers have successfully merged the Ropsten Testnet to the proof-of-stake beacon chain. The Merge of the Ropsten Testnet is meant to be a test run for the final Merge on the Ethereum mainnet.

A popular crypto analyst is exploring buyer interest at different price levels to see where leading smart contract platform Ethereum (ETH) is headed next. In a new strategy session, the anonymous host of InvestAnswers tells his 440,000 YouTube subscribers that, despite a rough start to 2022, ETH has held firm at $1,720 and has since The post Ethereum (ETH) Next Stop at $2,200? Top Crypto Analyst Explains How ETH Kicks Off Next Rally appeared first on The Daily Hodl.

Ethereum (ETH) tumbled during the crypto market crash of May, leading to a substantial decrease in its market capitalization. The post Ethereum (ETH) Market Cap Slashed By More than $100 Billion in May appeared first on BeInCrypto.

A court in Brazil has ordered the domestic crypto exchange Foxbit and another crypto-related firm to “reimburse” customer who “lost” almost USD 3,000 worth of ethereum (ETH) in a transfer in February 2020.

Ethereum price analysis is bullish today as we expect the $1,750 support to hold and reverse the market later today. Therefore, ETH/USD will likely look to set another lower high over the middle of the week.

Since breaking down from a long-term consolidation pattern, Ethereum (ETH) has struggled to sustain an upward movement and create a bullish structure. The post Ethereum (ETH) Generates Bullish Divergence Despite Bearish Price Action appeared first on BeInCrypto.