Ethereum

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games. Ether is the native token for the Ethereum ecosystem.

The Ethereum blockchain is preparing a significant upgrade, called the Ethereum Merge, tentatively scheduled for Sept. 13-16, 2022.

The Merge reflects a shift in Ethereum’s protocol in which the blockchain will move from a “proof-of-work” to “proof-of-stake” system.

Miners validate transactions by solving complex calculations before a new block can be added to the chain. This is the mechanism that Bitcoin ($BTC) runs on.

Miners are replaced by “validators,” who stake the ETH they own to validate new blocks on the chain. Avalanche ($AVAX) and Solana ($SOL) are proof-of-stake.

The Ethereum Foundation reports that moving to a proof-of-stake model will reduce the blockchain’s energy consumption by more than 99%.

Ether ($ETH) is Ethereum’s native crypto asset, while Ethereum is the underlying blockchain. No disruptions to ETH are expected following the Merge.

Unlike Bitcoin, the founder of Ethereum is publicly known. Vitalik Buterin published Ethereum’s introductory paper in 2013 and launched the project in 2015.

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games.

The Ethereum Foundation

*This content is for educational purposes and is not investment advice.

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Bitcoin

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Major coins traded in the green on Monday evening, signaling a surge in investor optimism.

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climbed on Monday evening, topping the key psychological level of $30,000 as investors awaited key inflation data later in the week that could steer crypto prices.

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Ether traded above $1,900 ahead of the Shanghai upgrade, while bitcoin flirted with the $30,000 level.

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Sushi Swap

Over the weekend, SushiSwap suffered a major security breach when a bug in its RouterProcessor2 contract was exploited, leading to the theft of approximately $3.3 million worth of Ethereum (CRYPTO: ETH) from a user's wallet. PeckShield, a blockchain security and data analytics company, confirmed that the "approve-related bug" in the contract allowed the attacker to steal 1,800 ETH from the victim's wallet.

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Bitcoin started the week climbing back above $28,000, as markets returned from the Easter holidays. The move saw the world's largest cryptocurrency briefly break out of a key resistance level of $28,500. Ethereum was also higher, as it closed in on the $1,900 level.

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According to several reports, a bug introduced to the decentralized exchange (dex) protocol Sushiswap's smart contract has resulted in more than $3 million in losses. The blockchain and smart contract security firm Peckshield explained the exploited contract was “deployed in multiple blockchains.

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Major coins traded in the mixed on Sunday evening, as investors continue to anticipate the impending regulatory challenges. Cryptocurrency Gains (+/-) Price (Recorded 9:30 p.m.

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Bitcoin was back above $28,000 on Saturday, as markets continued to react to the latest nonfarm payrolls (NFP) report. Figures released on Friday showed that 236,000 jobs were added to the U.S. economy last month. Ethereum was also back in the green to start the weekend.

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Crypto analytics platform IntoTheBlock says this month's expected Ethereum (ETH) upgrade will bring huge benefits to the ecosystem. However, the leading analytics firm warns of near-term price volatility since the upgrade will allow validators to start withdrawing their long-staked ETH worth tens of billions of dollars.

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Bitcoin consolidated for a third consecutive session on Friday, hours before a much anticipated nonfarm payrolls (NFP) release. Many are expecting that payrolls will come in under the 240,000 expected sum, following recent disappointing labor data. Ethereum was also largely unchanged as of writing.

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The Ethereum price (ETH) is slowly approaching the psychological $2,000 mark (ETH).

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News for Ethereum Crypto (ETH)