Ethereum’s Price Soars as London Hard Fork Approaches
Ethereum is the most efficient blockchain concept out there as it costs less to maintain it and yields more vital and vibrant proceeds to its users. Many updates have been integrated within the blockchain over the course of many years, and now Ethereum is up for the most significant update for its blockchain, which is London hard fork. This update is still quite far, and Ethereum is already experiencing a two-month high in its price ahead of this update; this speaks highly of a bullish run that is destined to accommodate the altcoins such as the Ethereum itself.
The update is scheduled to go live on Thursday, and according to a few notable representatives of the blockchain, the update will take into effect when the 12965000th block on the blockchain has been verified and validated.
New Update will Bring Significant Changes
These are the key indicators; the engineers in charge of these updates mark their implementation in the form of a specific block number or when the system has hit a particular number of transaction limits by volume. The major change which this update is bringing to the table is the modification within the verification protocol for transactions; it will ultimately change how these transactions are handled and validated by Ethereum’s blockchain.
Ethereum had seen a massive surge in its price this week which accounts for a total of 16%, especially when the cryptocurrency declined by 0.5% this Thursday, but the news of this new update being implemented into the network’s core has changed a few things for the crypto’s price. At present, Ethereum is at the highest possible price level since the month of June.
The mid-may crash didn’t only affect Bitcoin but other altcoins, especially Ethereum. It was rather difficult to rebound from such an extreme market crash, but it goes without saying that Ethereum has managed to hold off this storm because of a strong engineering team backing up its play. At present, Ethereum is valued at $2680, which is entirely over the top and definitely points towards a new update that is being rolled over for Ethereum’s blockchain soon enough.