Ethereum founder talks about price predictions and Ethereum fees after the upcoming upgrade
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Answer Ethereum founder talks about price predictions and Ethereum fees after the upcoming upgrade
Ethereum co-founder Vitalik Buterin said Monday that the next 10 years will transform Ethereum and the entire crypto industry.
The next upgrade (consolidation) will push for adoption of crypto payments and new use cases where transaction fees will drop to less than $0.05 due to scaling and improved efficiency.
Merge will return crypto payments and interest:
During the Korea Blockchain Conference, Vitalik Buterin told that the merger will restore crypto payments and other blockchain and crypto benefits that dwindled after 2018.
The next 10 years will transform Ethereum and the entire crypto space.
Moving from a PoW consensus mechanism to a PoS mechanism will significantly reduce gas fees for transactions.Read:A new scam in Belarus cost its victims more than 100,000 dollars
Additionally, expansion with Layer-2 Zk-rollups and other improvements will bring crypto payments and other use cases in the future.
Once we have the scaling technology, it becomes really possible to try to make cryptocurrency payments mainstream again.
In the future, with cumulative, and with all the efficiency improvements, transaction costs could drop to $0.05 or even as low as 0.2 cent.
Vitalik Buterin believes that many applications of crypto are promising in theory, but not feasible in practice today.
However, it is likely that integration will make these applications possible.
Vitalik Buterin confirmed that Ethereum miners migrating to Ethereum Classic are unlikely to affect the upcoming upgrade.
After the merger, the pricing of Ethereum (ETH) will take at least 6-8 months, both in terms of market and psychologically due to the cleanup phase according to Buterin.
Ethereum price hike before upgrade:
The price of Ethereum rose rapidly due to the community’s optimism about the upcoming upgrade.
Despite enjoying the bullish momentum, the market rally appears to be short-lived due to the dominance of the bear market.Read:Japan fines cryptocurrency exchanges for violating Russia sanctions
In the past 24 hours, the price of Ethereum has risen over 6%, with the current price trading at $1,800, well above the psychological level of $1,500.
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