Can Ethereum Overtake Bitcoin After Consolidation?

After the “merger”, it is likely that, in the medium term, the capitalization of Ethereum will exceed that of Bitcoin.

Does this mean that Ethereum will be worth more than Bitcoin? No, but the total Ethereum available in the market will be worth more than the total Bitcoin and Ethereum will become the number one coin to be capitalized.

What is Ethereum?

The Ethereum cryptocurrency is one of the largest cryptocurrency projects in the industry. It is a digital platform based on blockchain or blockchain technology and its goal is for the blockchain to be able to run decentralized applications (dApps)

To achieve this, this project has blockchain and cryptocurrency with unique characteristics. Among them, the ability to create new smart contracts and tokens. Both are powerful features, which allow it to position itself as one of the most complete and useful block chains in the crypto world.

What is “merging”?

Today, September 15, there will be a “merging,” which is nothing more and nothing less than a change in the way transactions are issued and verified within the database used by Ethereum. Which involves a major and revolutionary change.

From now on, new Ethereum will not be created through the originally created layer known as POW (Proof of Work) and will be created through the POS (Proof of Stake) layer. Next, a “merging” occurs as Layer 1, which is the layer we currently know and the layer used by miners to create new Ethereum, merges with the Beacon Chain.

With this improvement, Ethereum seeks to do away with video cards for transaction processing thus reducing electricity consumption by 99% and in the future, allowing new updates that generate greater security and scalability.

Written by Norberto Giudice-Criptonorber