ETH - Ethereum's Next Upgrade Is Scheduled. Here's What It Might Accomplish.
In mid-September, Ethereum (CRYPTO: ETH) underwent one of the most important and publicized upgrades in blockchain technology history. The update changed the method in which transactions are verified, moving from a clunky, energy-consuming method called proof of work to a more streamlined and efficient one called proof of stake. But did you know this update is just one of many planned upgrades in Ethereum's future?
The most recent upgrade, named The Merge, captured the attention of cryptocurrency investors and blockchain users for months, mainly because of its complexity. There were serious doubts that Ethereum developers could pull it off. But now that they have, The Merge has laid the foundation for other upgrades that should help Ethereum serve more purposes and ultimately rise in value.
In an Oct. 14 announcement, the Ethereum Foundation released the list of updates to be a part of the next upgrade. Dubbed Shanghai, this next upgrade is scheduled for release by September 2023 at the latest and will add necessary functionality to Ethereum.
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Ethereum's Next Upgrade Is Scheduled. Here's What It Might Accomplish.