The Ethereum “Merge Upgrade” network upgrade is coming sometime this September. It’s a major upgrade that society has been waiting for. Leading bank Citigroup has stated that the upgrade of the Ethereum network will have a huge impact on the blockchain and the price of ETH.
Citigroup Bank’s report reveals that when such upgrades begin to occur, it will result in lower power consumption, lower inflation, and potentially more efficient Ethereum processing.
network adaptation using a Proof-of-Stake (PoS) will cause Ethereum tokens to drop by about 4.2% per year, and when inflation on the Ethereum network decreases, Ether ends up being a hedge and store asset. of value in the future
Ethereum will have lower inflation.
A report from Citi reveals that as Ethereum transitions to PoS, more money flows into the network, providing more ways to bring value into the network that blockchain is currently unable to. Additionally, after the Ethereum Merge upgrade took place, the network reduced power consumption by 99.95%.
What is a Merge upgrade?
The Ethereum Merge upgrade will take place on September 19, 2022, which will allow the Ethereum mainnet to be integrated into the PoS-based Beacon Chain and secure the Ethereum mainnet with the system. Traditional Proof of Work (PoW) system and can be used simultaneously with Beacon Chain which is also a PoS system
After the announcement was made, the price of ETH rose with an uptrend. The community expects this upgrade to bring more global institutional investors to the market.
ETH is currently priced at $1,730.37, a 4.83% increase over the past 24 hours. Reference information from CoinMarketCap
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