Tag: ethereum crypto

Technology

Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade

The Ethereum network is set to undergo a technical revamp on April 12 that will allow users to withdraw tens of billions of dollars of its native token, Ether. Known as the “Shanghai” upgrade, it's a necessary step after the world's most commercially important crypto platform shifted to a less power-hungry process for ordering transactions. Investors burned by recent turmoil in crypto markets will be wondering if, presented with their first opportunity to withdraw their tokens, some Ether holders will run for the hills. 1. What is Ethereum?It's a computer network that hosts what are known as smart contracts — self-executing software agreements in which a chain of actions can flow from defined conditions and contingencies. Since it was introduced by crypto entrepreneur Vitalik Buterin i...
Technology

Ether Outlook Darkens in Charts Capturing Hangover After the Merge

The fanfare over a revamp of the Ethereum blockchain is still echoing across the cryptoverse but that’s doing little to stem a slide in Ether. The fanfare over a revamp of the Ethereum blockchain is still echoing across the cryptoverse but that's doing little to stem a slide in Ether.The network's native token is down 10% since the most commercially important digital ledger last week implemented an upgrade to slash energy use. The second-largest virtual coin had rallied from mid-June on hype around the software update known as the Merge, but that's fizzling now the shift is done. It's down some 63% this year, a bruising period for cryptocurrencies. Crypto and many other assets are also quivering ahead of what's likely to be ...
Technology

Ether Miners Are Piling Up Losses As ‘Merge’ Shifts Them to Altcoins

Ether miners are piling up losses after shifting to lower value cryptocurrencies such as Ethereum Classic and Ravencoin, in the wake of an Ethereum network upgrade that rendered much of their operations obsolete. Ether miners are piling up losses after shifting to lower value cryptocurrencies such as Ethereum Classic and Ravencoin, in the wake of an Ethereum network upgrade that rendered much of their operations obsolete. The upgrade, known as the ‘Merge', replaced powerful graphic cards used by Ether miners with investors who stake Ether, in order to secure the Ethereum network and validate transaction data encrypted by the blockchain. The tokens that the miners are now seeking to mine still operate under Ethereum's ol...
Technology

Ether Price Falls as Ethereum Revamp Turns Into ‘Sell-the-News’ Event

Ether led digital assets lower after a groundbreaking software upgrade of the token’s underlying network turned into what some market observers labeled a “sell-the-news” event. Ether led digital assets lower after a groundbreaking software upgrade of the token's underlying network turned into what some market observers labeled a “sell-the-news” event. The second-largest token dropped as much as 3% on Friday and was trading around $1,475 as of 8:33 a.m. in Tokyo following a more than 6% slide Thursday. Ether is paring a rally since mid-June sparked in part by optimism about the Ethereum update -- the Merge -- to slash the network's energy use. “Now the excitement around the Merge is done, and we don't have a catalyst for...
Technology

Crypto Lending Now Pays Less Than Safest US Government Debt

Cryptocurrencies are facing a new threat: the lure of Treasuries offering a similar payout for a whole lot less risk. Cryptocurrencies are facing a new threat: the lure of Treasuries offering a similar payout for a whole lot less risk. In a rare reversal, crypto yields that institutions typically seek out have fallen below what the US government pays to borrow for three months, giving the hedge funds and family offices that have flocked to the digital space one less reason to keep investing.The Federal Reserve's hawkish stance is driving up interest rates almost everywhere -- except in the speculative world of crypto, where yields have collapsed alongside volumes, wiping out some of the main avenues for generating double-dig...
Technology

Ethereum crypto overhaul targets environmental impact

The world's second biggest cryptocurrency after bitcoin, ethereum, will soon overhaul its blockchain technology to curb the network's much-criticised environmental impact.Ethereum, whose digital unit ether tumbled in a crypto crash earlier this year, will in September undergo a major technical revolution. So what is the backdrop for the looming reset -- known as the Merge -- and how will it calm prices and cut electricity usage? - Why does crypto use so much energy? -Bitcoin, ethereum and other such currencies are "mined" by solving complex puzzles using powerful computers that consume enormous amounts of energy in vast warehouses, often near cheap electricity sources.A blockchain is the decentralised and secure ledger for recording those transactions, which occur ...