Polygon Says Ethereum Merge Is “Good News” Amid Community Fear

With the highly-anticipated Ethereum Merge fast approaching, the team behind layer 2 scaling solution Polygon has asserted that Ethereum's upcoming transition to a Proof-of-Stake (PoS) consensus mechanism is good news and will not limit Polygon's capabilities.  According to Polygon's developers, Ethereum's migration to PoS will make the protocol less energy-intensive and more environmentally friendly.

Timeline of Ethereum, Polygon

The date for Ethereum's transition from a Proof-of-work based consensus mechanism to a proof-of-stake mechanism is inching closer. The change is being done to lower the energy consumption, and carbon footprint produced by the traditional PoW mechanism. The much-anticipated upgrade of the Ethereum network has intrigued investors ever since the idea was first disclosed.

After the announcement of the Ethereum Merger, many believe the network is closer to addressing the major issues related to speed and scalability. Hence, the gas fees which had blown the minds earlier may be settled at decent levels.

Ethereum is back on track, with the crypto price resuming its positive trend against Tether (USDT) as it gathers momentum in preparation for a breach over a crucial barrier ahead of “The Merge.” ETH's price just suffered a rejection to the $1,500 level after failing to retain its bullish trendline functioning as support.

Ethereum ETH price regained its bullish trend against Tether (USDT) as it builds more strength to break above the key resistance ahead of “The Merge.” ETH price saw a rejection to a region of $1,500 recently as it could not hold its bullish trendline acting as support.

Coinbase has launched a liquid token for its users who staked their Ethereum (ETH) on its platform called cbETH, according to an August 24 announcement. The post Coinbase launches liquid staking token to ‘keep Ethereum decentralized' appeared first on CryptoSlate.

The price of Ethereum's native ETH token rallied on Thursday after the Ethereum Foundation on Wednesday announced that the Bellatrix upgrade – a key step that must be completed before the Merge – is scheduled for September 6.

Coinbase has introduced a utility token called Coinbase Wrapped Staked ETH (cbETH) which can be traded out of the exchange and used in DeFi. The post Coinbase Introduces Wrapped Staked ETH Utility Token in Anticipation of Merge appeared first on BeInCrypto.

Billionaire investor and Dallas Mavericks owner Mark Cuban declared himself a fan of the Merge — an important network upgrade for Ethereum (CRYPTO: ETH) that would change its consensus mechanism forever. What Happened: “I think the energy usage issue is important,” Cuban said in a recent interview with Fortune.

Ethereum (ETH/USD) is the second largest cryptocurrency in terms of market capitalization and one of the largest blockchain networks in terms of decentralized application (dApp) development. In fact, Ethereum became the home to some of the most popular and most valuable non-fungible tokens (NFTs), which utilized its technology and smart contracts to get minted.

Coinbase launches a new token called Wrapped Ethereum Staking or cbETH  The token comes with a diverse set of use cases in the broader liquid staking ecosystem Coinbase has unveiled its own liquid staking token dubbed cbETH ahead of the highly anticipated Ethereum merge.