Ethereums Altair Upgrade and Outbreak
Ethereums Altair Upgrade and Outbread
Ethereum is always getting lots of attention be it good or bad as of late. While many investors and people are currently focused in on Bitcoin Ethereum is steadily gaining ranks and exposure again putting in some price points based on speculation and upgrades. In this post I'm going to go over some near term possibilities for Ethereum and information about the Altair upgrade.
Altair Upgrade
The Altair upgrade is slated to be released some time soon possibly tomorrow (October 27th). This doesn't effect Ethereum directly as it's instead done on the side beacon chain and is the large test bed for transitioning Ethereum from PoW(Proof of Work) to PoS(Proof of Stake). This upgrade is another step in that direction however it's full release seems to still be far off. While Ethereum directors themselves say early 2022 most others point it to summer of 2022 or later.
If we look back on upgrade progression of Ethereum in the past what was promised 4 years ago still hasn't happened so don't expect for it to be a quick jump. There's also A LOT at stake with this transition if it should go wrong so things need to be done slow the methodical.
The main focus of the Altair upgrade is to make the client as light, easy and efficient to the point it can be run on any device. Mobile, hardware, browser extension and inside of other smart-contract blockchains. This shows Ethereums willingness to work with other blockchains and inject themselves within them in a safe and secure manner. To me this is one of the biggest and pivotal things as I don't believe there is one blockchain to solve or do everything amazing. Instead it's a mess of multipule blockchains all working together.
Current Fuel / Growth
Ethereum has been fueled heavily on the NFT marketplace at the moment. Nearly all serious NFTs are done on Ethereum and not other blockchains. The high dreamy eyed price of Ethereum is one of those big contributing factors.
Possibilities
Since Bitcoin recently picked up its ETFs people are now starting to speculate that Ethereum might not be far behind on the ETF train. Now that we have successful approved ETFs it's far easier for companies to now mimic that for other chains such as Ethereum. Remember though these are simply futures contracts.
This speculation that Ethereum could be next for the EFT lineup soon as investors jumping in now and stocking up for the just in case moment. In reality it does make sense though that this would be the next step for ETFs to be released being that Ethereum is second on the list of largest market caps with a very real possibility at one day beating Bitcoins market cap.
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I have always have my eyes on ETH... It is the best deal for me after BTC and I've always stakes more on it.
Yay! 🤗
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Indeed when reminding myself how it was expected to come live much sooner and we are still far away from it being done.
Fees have continuously gone up for the past 4 years destroying many businesses based on ETH.
Let's hope they will get their s**t together:D
Do you think the market drop is due to the Altair upgrade? The coincidence might be unfortunate.
Posted Using LeoFinance Beta
Honestly I called for the correction about 3 days ago when bitcoin hit an all new high. That's just standard flow of crypto. Peg a new high quick correction after. We should see a steady uptick again here in a day or two depending on how close to the weekend we are. Weekends have 9 out of 10 times been declines in price.