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What Is 'The Merge'? Ethereum’s Move to Proof of Stake
In September 2022, Ethereum made the transition from a power-hungry, proof-of-work system to an environmentally friendly proof-of-stake system. This switch is known as the "merge.” Here’s what you need to know. What is the merge? The merge changes the way that Ethereum transactions are validated. Previously, Ethereum worked like Bitcoin: transactions were mined by a decentralized network of computers, which raced to solve mathematical puzzles and were rewarded with new coins for doing so. This...
How Ethereum Traders Are Preparing to Buy and Sell the Merge
A look into the Ethereum derivatives market indicates that the "merge"— a long-awaited upgrade to the Ethereum network—is setting the stage for crypto traders to "buy the rumor, and sell the news." That’s according to the blockchain intelligence firm Glassnode, which today reported "backwardation" across both ETH options and futures heading into September, when the merge is expected to occur. The term backwardation refers to when prices for an asset in the futures market are lower than its under...
What to Expect on Coinbase and Other Crypto Exchanges During the Ethereum Merge
With the highly anticipated Ethereum merge happening next month—and the blockchain moving from proof of work to proof of stake—the biggest crypto companies are now beginning to announce what the experience will look like for retail investors. Coinbase will temporarily pause Ethereum and ERC-20 token deposits and withdrawals during the merge, the exchange announced Tuesday. The pause is a precautionary measure, Coinbase said in a blog post, with the downtime allowing the exchange to “ensure that...
What the Ethereum Merge Means for NFTs
We’re days away from Ethereum’s long-awaited merge, in which the leading network for dapps and NFTs will shift to a more energy-efficient system. It’s years in the making, but as the mid-September target draws near, many users are wondering what could go wrong—and whether anything will change with their owned assets. That’s especially true when it comes to NFTs, with tens of millions of profile pictures, collectibles, and pieces of artwork now running on Ethereum—some of which have commanded eye...
The Ethereum Merge Is Almost Here. What Could Go Wrong?
It’s been awaited for half a decade, delayed for years, praised, condemned, tweaked, and so its developers say, perfected. Ready or not, here comes Ethereum’s long-anticipated merge. But, given the technical feat that it is, is there any risk of something going terribly wrong? The merge—Ethereum’s transition from a proof-of-work system to proof of stake—is set to occur between September 10 and September 20. During this historic upgrade to the second-largest cryptocurrency by market cap, upon wh...
