ETH - Why Every Investor Needs to Know About the Ethereum Upgrade Coming Soon
The crypto asset class was dominated by controversy for most of 2022 and contrary to popular belief, there actually were some good things that happened. At the top of this list was Ethereum 's (CRYPTO: ETH) successful implementation of The Merge. Arguably one of the most significant events in crypto history, The Merge transitioned Ethereum from a clunky, energy intensive proof-of-work consensus mechanism to the more streamlined and efficient proof-of-stake method.
You could write a book on the details of The Merge and proof-of-work versus proof-of-stake . But of more importance is that Ethereum successfully carried out The Merge and is about to undergo another upgrade, a sign that progress doesn't always have to take years. This time it's referred to as Shanghai -- albeit a smaller upgrade than The Merge, this new update will unlock the funds of users who staked their Ethereum to earn interest before The Merge.
Ethereum developers said that they plan on implementing the Shanghai upgrade sometime in March. Not only is this a bit of refreshing news, but with a successful launch of Shanghai, Ethereum might be able to finally reap some of the benefits that come with switching to proof-of-stake.
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Why Every Investor Needs to Know About the Ethereum Upgrade Coming Soon