The newest Ethereum news is out, and it’s all about the new consensus algorithm, which is called proof of stake. This upgrade was among the most anticipated in cryptocurrency history. Ethereum developers are already hard at work on the next iteration of the protocol. And, the company has teamed up with several prominent players in the industry, including Wall Street Blockchain Alliance, Lowenstein Sandler, and Fidelity Digital Assets.
Despite its lack of hard cap, Ethereum’s supply is not limited. This means that it can grow exponentially. For example, a co-founder of ETH Hub, Andrew Keys, believes the price of Ethereum will hit $1.15 by February 29. This would mean that the cryptocurrency could reach over $1,400 by 2023.
As the cryptocurrency boom continues, Ethereum is becoming increasingly important. Thousands of new projects and tokens are based on Ethereum, bringing new levels of interest to its market price. This has sparked new demand for the currency, which has risen to a new all-time high of $4,400. Ethereum is also driving the demand for new technologies that rely on the technology. These technologies require ETH to pay for gas fees.
The Ethereum network is designed for very fast transactions. In fact, Ethereum transactions can be completed in a matter of seconds compared to minutes for Bitcoin. The Ethereum news provides more details about the technology and how it works.
