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Crypto Shankar

Ethereum

<p>BlackRock, a leading global asset management firm with assets totaling $9 trillion, has officially confirmed its intentions to launch an <a href="https://www.web3cafe.in/cryptocurrency/ethereum">Ethereum</a> exchange-traded fund (ETF). The move signifies a strategic expansion beyond Bitcoin, reflecting the growing interest in cryptocurrency-backed investment products.</p>

<p>The confirmation comes through the submission of a 19b-4 form to the United States Securities and Exchange Commission (SEC) on 9 November. The filing, made by Nasdaq on behalf of BlackRock, outlines the proposed ETF named the ‘iShares Ethereum Trust.’ This marks a significant step in BlackRock's pursuit of diversifying its ETF offerings.</p>

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<h3>Industry interest in cryptocurrency ETFs</h3>

<p>BlackRock's move follows a broader trend of financial institutions expressing interest in cryptocurrency-backed ETFs. Notably, five firms, including VanEck, ARK 21Shares, Invesco, Grayscale, and Hashdex, are vying for SEC approval for their respective spot Ethereum ETFs. The competition underscores the growing mainstream acceptance of cryptocurrencies as investment assets.</p>

<p>&lt;blockquote class="twitter-tweet"&gt;&lt;p lang="en" dir="ltr"&gt;Wow. BlackRock appears to be making initial steps for a spot Ethereum ETF now too.&lt;a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;amp;ref_src=twsrc%5Etfw"&gt;#Bitcoin&lt;/a&gt; ETF must be a done deal if they&amp;#39;re already moving forward with ETH&lt;br&gt;&lt;br&gt;The free market will decide between credibly finite Bitcoin backed by PoW and sometimes deflationary PoS ETH 🍿&lt;/p&gt;&amp;mdash; Stack Hodler (@stackhodler) &lt;a href="https://twitter.com/stackhodler/status/1722638901318156366?ref_src=twsrc%5Etfw"&gt;November 9, 2023&lt;/a&gt;&lt;/blockquote&gt; &lt;script async src="https://platform.twitter.com/widgets.js" charset="utf-8"&gt;&lt;/script&gt;</p>

<h3>Market reaction and Ethereum's surge</h3>

<p>The news of BlackRock's Ethereum ETF plans had an immediate impact on the market. Ethereum's native cryptocurrency, Ether (ETH), experienced an 8.9 percent surge, reaching $2080. This surge has contributed to ETH regaining market dominance against <a href="https://www.web3cafe.in/cryptocurrency/bitcoin">Bitcoin</a>, marking a shift in recent market dynamics.</p>

<h3>Market dominance dynamics</h3>

<p>Ether's market dominance, currently standing at 17 percent, has increased by 1.3 percentage points since the news broke. This indicates a positive market sentiment surrounding BlackRock's foray into the Ethereum ETF space.</p>

<p>The development highlights Ethereum's resilience and attractiveness as an investment option, especially in comparison to Bitcoin.</p>

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<p>BlackRock's official confirmation of its Ethereum ETF plans signals a pivotal moment in the evolution of cryptocurrency investment products. The market's positive response underscores the increasing recognition of Ethereum's value.</p>

<p>As the cryptocurrency landscape continues to evolve, the introduction of diversified ETF options is likely to play a crucial role in shaping investor preferences.</p>


Ethereum ETF confirmation comes through the submission of a 19b-4 form to the United States Securities and Exchange Commission (SEC) on 9 November.


BlackRock to launch Ethereum ETF marks a strategic expansion beyond Bitcoin

Five firms competing for SEC approval of spot Ethereum ETFs highlights the growing mainstream acceptance

Ether (ETH) surges 8.9% on news of BlackRock's ETF plans demonstrate the market positive sentiment

Blackrock confirms Ethereum ETF

cryptocurrency

ethereum 

BlackRock's Ethereum ETF confirmation sparks market surge: What investors need to know

BlackRock's Ethereum ETF confirmation sparks market surge

<p>Blockchain investigators have red-flagged multiple Ethereum (ETH) transactions, amounting to $1,574, involving a wallet linked to Ethereum co-founder Vitalik Buterin in September 2023. These transactions total over $3.9 million and include a separate 400 ETH transfer, valued at approximately $632,000, from Buterin's wallet to Coinbase on 25 September.</p>

<p>Spot On Chain, a blockchain analytics platform, has revealed that Buterin's recent transaction is part of a series of ETH deposits to centralised exchanges over the past 10 days. According to their estimates, Buterin has deposited around 2,421 ETH (equivalent to $3.94 million) since September 15th.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">🚨 <a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw">@VitalikButerin</a> deposited 400 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a> at $1,579 ($632K) 2hrs ago.<br />
<br />
Notably, Ethereum’s co-founder has deposited a total of 2,421 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> to multiple CEXs at 1,628 on average ($3.94M) via two addresses over the past 10 days.<br />
<br />
👉 More details: <a href="https://t.co/tiJwn0omkk">https://t.co/tiJwn0omkk</a>… <a href="https://t.co/C3BqRmsUau">https://t.co/C3BqRmsUau</a> <a href="https://t.co/8v1jmadwaM">pic.twitter.com/8v1jmadwaM</a></p>
— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1706156605874872403?ref_src=twsrc%5Etfw">September 25, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h3>Buterin's cryptocurrency movements under intense scrutiny</h3>

<p>The platform details deposits of 321 ETH into Kraken between 15 September and 19 September. Additionally, it has been reported that Buterin made deposits of 1,700 ETH into Bitstamp through multiple transactions on both 17 September and 20 September, and a separate deposit of 500 ETH was made to Paxos on 19 September.</p>

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<p>These transactions have been verified using the Nansen 2 beta's wallet profiler. Blockchain data also highlights a transfer of 2,000 ETH (equivalent to $4.9 million) to the address responsible for these transactions, originating from another wallet long associated with Ethereum's co-founder.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">When diving into a token in Nansen 2, you can filter through a list of suggested Nansen labels to make finding alpha easier<br />
<br />
Or you can jump right in by searching for the labels that interest you the most<br />
<br />
Better yet, you can filter by multiple labels at once <a href="https://t.co/K4FEboxCHc">pic.twitter.com/K4FEboxCHc</a></p>
— Nansen 🧭 (@nansen_ai) <a href="https://twitter.com/nansen_ai/status/1706253066046173217?ref_src=twsrc%5Etfw">September 25, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>Spot On Chain notes that the source of the 2,000 ETH transaction is a more well-known address (0xD04daa65144b97F147fbc9a9B45E741dF0A28fd7) belonging to Buterin, as opposed to the intermediary address (0x5567A4bE2D5b77F5Fd870f99Ed9167Feab8831B1) responsible for transferring funds to exchanges.</p>

<p>In short, blockchain analysts are closely monitoring a series of high-value ETH transactions originating from Vitalik Buterin's wallet. These transactions raise questions about the purpose behind these transfers, the destinations of the funds, and their potential implications for the cryptocurrency market.</p>

<p>The involvement of a well-known address linked to Buterin in these transactions adds an intriguing layer of complexity to the investigation, prompting further scrutiny from the blockchain community.</p>


ETH transactions linked to Vitalik Buterin's wallet in September 2023 raise alarms: $1,574 total, $632,000 to Coinbase.


Vitalik Buterin's $3.9M crypto transactions raises concerns among investigators

Spot On Chain finds Buterin's major ETH deposits to exchanges from September 15th

Vitalik wallet sends 400 ETH to Coinbase

Vitalik Buterin's wallet transfers 400 ETH valued at $600,000 to Coinbase: Report

Vitalik wallet sends 400 ETH, worth $600K, to Coinbase

<p>Vitalik Buterin, Ethereum’s Co-Founder, recently issued a warning against extending the Ethereum consensus's capabilities. In a <a href="https://vitalik.ca/general/2023/05/21/dont_overload.html" target="_blank"><strong>blog&nbsp;</strong></a>&nbsp;post titled, 'Don't overload Ethereum's consensus,' Buterin highlighted the importance of preserving Ethereum and not burdening validators with extra tasks.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Don't overload Ethereum's consensus:<a href="https://t.co/07tzyCrZcJ">https://t.co/07tzyCrZcJ</a></p>
— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1660356821779988480?ref_src=twsrc%5Etfw">May 21, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>Moreover, he stressed over such a burden on Ethereum consensus is directly linked with systemic risks of damaging the ecosystem.</p>

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	<li class="editor-readmore"><strong>Also Read</strong>:&nbsp;<a class="editor-rel-content" href="https://www.web3cafe.in/cryptocurrency/ethereum/story/the-impact-of-the-transition-of-the-merge-proof-of-work-to-proof-of-stake-in-ethereum-538067-2023-04-05">The Merge: Was it a significant upgrade for Ethereum?</a></li>
</ul>
</div>

<h3>What risks does the overburdening carry?</h3>

<p>Buterin said that proposals have been made to exploit the social consensus of Ethereum for a variety of things, including price, data oracles, re-staking initiatives, and using layer-1 soft forks to fix problems with layer-2 projects. The core functionality of the blockchain is naturally inclined to be extended, but Buterin warned that each extension makes the core itself more brittle.</p>

<p>The Co-Founder of Ethereum further claims that some methods used in connection with these proposals represent serious threats to the ecosystem. Creating ETH/USD price oracles, for instance, through the bribery of ETH holders or validators, could result in a fork and possible financial loss. Better oracles were needed, he recognised and emphasised the necessity to handle these issues individually due to their fundamental distinctions.</p>

<h3>Encourages re-staking with caution</h3>

<p>Buterin stated that increasing the responsibilities of Ethereum's consensus will increase the expenses, difficulties, and hazards related to operating a validator. He further directed caution at the time when application-layer projects make decisions that go beyond confirming the core Ethereum protocol rules. Instead, he pushed for encouraging re-staking methods that do not increase the role of Ethereum's consensus and for encouraged&nbsp;developers to consider other methods for achieving their security objectives.</p>

<p>It must be mentioned that in September 2022, Ethereum's consensus process switched from proof-of-work to proof-of-stake. Moreover, the recent release of the Shapella upgrade has also intensified the emphasis on validator duties and security issues.</p>


Buterin has argued in favour of preserving the Ethereum consensus minimalism and not overload validators with other things like, price, data oracles and re-staking on layer- 1. 



Ethereum’s Co-Founder focuses on importance of preserving Ethereum blockchain

Overloading of unnecessary things may hamper the overall Ethereum consensus layer-1 

Vitalik said that emphasis is on validator duties and security issues 

Vitalik Buterin raises concerns on overloading Ethereum consensus layer 

Vitalik Buterin warns against overloading of layer-1

Blockchain

Decentralised Applications

<p>With the introduction of ERC-4804, Web3 URLs have been made available on Ethereum, enabling users to access Ethereum apps and nonfungible tokens (NFTs) without being concerned about centralised censorship.</p>

<p>On February 14, 2022, the new Ethereum standard, named "Web3 URL to EVM Call Message Translation," was first put forth. It was co-authored by Qi Zhou, the creator of ETHStorage, Sam Wilson, and Chao Pi.</p>

<p>In order to directly access on-chain Web3 content, such as decentralised applications (DApps) front ends and NFTs, the plan was defined as a "HTTP-style" URL. ERC-4804 was authorised and published on the mainnet on March 1 more than a year later.</p>

<div class="embedcode">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">1/n, I am delighted to announce that the first web access protocol for ETH ERC4804: Web3 URL is approved by EIP editors and finalized!<br />
<br />
web3:// (<a href="https://t.co/uXpTGdXirF">https://t.co/uXpTGdXirF</a>) is decentralized http://. It allow users to directly browse the rich web content on EVM, pages/images/songs!</p>
— Qi Zhou (@qc_qizhou) <a href="https://twitter.com/qc_qizhou/status/1631057755069984768?ref_src=twsrc%5Etfw">March 1, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<p>According to Anthurine Xiang, a representative for the layer-2 storage protocol ETHStorage, the ecosystem frequently still uses centralised web servers to access "decentralised" applications.&nbsp;</p>

<p>Uniswap and other DApps currently make the claim to be decentralised applications, according to Xiang, who continued, "But how [do] we get on the webpage? You must utilise the DNS. You need to work with GoDaddy. They are all centralised computers.</p>

<drupal-entity data-caption="Web2 Vs Web3 (Image: w3eth.io)" data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="e95134ab-4eac-4392-9881-59b1b0198a9f"></drupal-entity>

<p>The majority of users now use HTTP, or "Hypertext Transfer Protocol," to reach the internet.&nbsp;</p>

<p>The computer uses HTTP to ask another computer to retrieve the requested information, such as a website or images, when a user clicks a link or types in a website URL on the internet.</p>

<p>Internet users who use ERC-4804 have the option to immediately access DApps like Uniswap or on-chain NFTs by typing "web3://" (as opposed to "http://") in their browsers. This is due to the standard's ability to enable direct querying of the Ethereum Virtual Machine by users. (EVM).</p>

<drupal-entity data-caption="Web3 URL on Uniswap (Photo: w3eth.io)" data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="25029dbd-1345-41f9-94fc-d1bcef0daaff"></drupal-entity>

<p>If the content of the website is stored on the Ethereum blockchain or a compatible layer-2 protocol, then it is potentially possible to access the entire website using these methods. Qi Zhou, the creator of ETHStorage, claims that the expenses of doing this are still very high.</p>

<p>In a recent presentation at ETHDenver, Zhou stated, "The critical issue here is that the cost of storage on Ethereum is super, super expensive on mainnet."</p>

<p>"One gigabyte of on-chain data, for instance, will cost about $10 million. [...] Zhou continued, "That is unacceptable for many Web2 applications and even many NFTs. Layer-2 storage solutions might help offset some of the expenses.</p>

<p>Xiang suggested that the new URL standard only makes sense for particular uses given the costs.&nbsp;</p>

<blockquote class="at-quotes">
<p>“Not everything needs to go decentralized. If you are running a pretty good Web2 business and you don’t have to worry too much about centralized censorship. [...] You can just go for that.”</p>
</blockquote>

<p>However, the new standard would be helpful for DApps or websites that are at danger of being blocked, like Tornado Cash. Because of restrictions, many people cannot access Tornado Cash through their website, for instance, according to Xiang.</p>

<drupal-entity data-caption="Types of Web3 Websites (Photo: web3eth.io)" data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="b59bc373-7c91-4383-9a8f-91f06871c3be"></drupal-entity>

<p>When asked if bad actors could use the new standard to engage in illegal behavior, Xiang responded:</p>

<blockquote class="at-quotes">
<p>“This is really hard to say just like how Bitcoin was founded. I think Bitcoin was not born for evil, but still, in the beginning, people [were] doing shady things like the Silk Road, they had been using Bitcoin.”</p>
</blockquote>

<p>As with Bitcoin, according to Xiang, they are merely providing people with a decentralised choice that they might not otherwise have.&nbsp;</p>

<p>Although it is not the first approach to decentralised web hosting, the new Ethereum standard is the first of its kind for the blockchain, according to Xiang.&nbsp;</p>

<p>A network designed to provide what centralised cloud servers presently do through decentralised methods is the InterPlanetary File System (IPFS). An IPFS URL, on the other hand, can only link to static material; this content cannot be modified or altered, according to Xiang.<br />
<br />
According to Xiang, ERC-4804 will support "dynamic data," such as enabling users to engage with website content by leaving likes and comments. The standard is anticipated to engage with other blockchains much more easily because it is native to Ethereum, according to Xiang.<br />
&nbsp;</p>


A new URL format has been introduced on the Ethereum network that cannot be blocked and works on decentralised technology.

New URL format that cannot be blocked

The ecosystem still uses centralised web servers

Also interacts with content on Ethereum blockchain

A new URL format that cannot be blocked has been introduced

blockchain

A new Ethereum URL format that cannot be blocked on the internet!

Ethereum URL format that cannot be blocked

<p>According to data from Delphi Digital, a research platform dedicated to crypto and digital assets, Ethereum validators have received 1.1 million ETH ($2007 million) in staking rewards since January 2021.&nbsp;</p>

<p>Around 2021, not long after the Beacon Chain's debut, Ethereum validators started gambling. Since then, their bounty has reportedly increased with the addition of more validators in the network.&nbsp;</p>

<h3>2023 marks increase in number of validators&nbsp;</h3>

<p>In the first 90 days of 2023, the number of Ethereum validators increased by more than 67,000. Data from the Beacon scan, an Ethereum 2.0 block explorer that lets users track the progress of the ETH 2.0 staking process shows that the number of ETH validators was approximately 495,000 at the beginning of this year, whichose to 562,236 by the end of March 2023.&nbsp;</p>

<p>The staking of Ethereum is interestingly dominated by five companies, namely, Lido Finance, Unlabelled, Coinbase, Kraken, and Binance. The concentration of these five entities in holding the majority of stakes has stimulated concerns related to centralisation and censorship risks. Since February 2023, the number of OFAC Compilat Blocks, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) that administers programs related to national security has decreased, given the analysis of censorship-related concerns.&nbsp;</p>

<p>At this time, 15 percent of the total ETH supply—more than 18 million tokens—has been staked. In recent weeks, the network witnessed increasing interest following the announcement for the upcoming Shanghai update, which is said to permit validators to withdraw their tokens. &nbsp;</p>

<p>According to DeFillama data, a multi-chain TVL stats dashboard, focused on the total value of ETH staked on liquid staking platforms to be around 8 million tokens, with a cumulative value of $14.5 billion.</p>

<h3>ETH holders choose self custody&nbsp;</h3>

<p>A recent report from Blockchain analytics firm, Santimen, highlighted the supply of ETH on exchanges to have noticed a decline to its lowest volume with more holders opting for self-custody. The report continues to focus on the quantity of ETH to stand at 10.31 percent, since July 2015.&nbsp;</p>

<p>Given that &nbsp;ETH has been deflationary since it completed The Merge in September 2022, the number of ETH tokens in circulation has decreased by almost 0.12 percent to 120.44 million, which indicates that more than 74,000 ETH tokens have been taken from the network.<br />
&nbsp;</p>


Ethereum validators increase their earning capacity to approx $2 billion in ETH staking rewards. 



The network noticed a rise in the active validators 

 The staking of ETH is dominated by companies like Binance and Kraken, this mounts  tensions among other companies 

As holders perceive the market to be deflationary, withdrawal of assets from their  exchanges rose 

ETH validators earn over $2 billion in ETH staking rewards 

 Ethereum validators increase their earning capacity  

<p>With the transition of Ethereum into Ethereum 2.0 after The Merge took place in September 2022, the energy consumption of this network reduced by 99.95 percent, as claimed by reports. The transition from PoW (Proof of Work) &nbsp;to PoS (Proof of Stake) not only removed the requirement for mining nodes to compete for block rewards or the cryptocurrency rewarded to a miner when they successfully validate a new block, instead required node operators to stake 32 Ether as collateral to become network validator and eventually earn rewards.&nbsp;</p>

<p>Analysts are of the belief that it was a turning point for the industry when Ethereum successfully made the switch to <span style="background-color:#ffffff;">proof-of-stake</span> since it fundamentally changed how safe smart contracts and other blockchain services are. Instead of requiring expensive hardware, anyone with funds can participate in the <span style="background-color:#ffffff;">POS </span>system.</p>

<p>As a matter of fact, Ethereum PoS is significantly more energy-efficient than proof of work. PoS comprises a consensus mechanism for processing transactions and adding new blocks to a blockchain in cryptocurrencies. A consensus mechanism is a technique for ensuring the security of a distributed database and validating entries.&nbsp;<br />
When it comes to the productivity of PoS, then in order to ensure security in blockchain, less CPU power is required to perform the process.&nbsp;The current transaction of Ethereum is around 15-30 transactions, with its vision to reach upto 1,00,000 transactions per second after the rest of the expected upgrades.&nbsp;&nbsp;</p>

<h3><br />
Ethereum turns deflationary&nbsp;</h3>

<p>The Merge represents a significant step in building a stronger and more efficient financial environment for Ethereum users. In addition to lowering the energy costs associated with mining, The Merge is said to lessen the quantity of ETH which is available for future use. The current scenario indicates a deflationary environment which suggests an increase in demand for Ethereum along with higher prices over time and thus considered positive by many analysts.&nbsp;</p>

<p>As compared to the on-chain data from 26 October 2022 to 24 January 2023, Ethereum has garnered approx 18 times more TVL ( total value locked) than most layer-2 blockchain, as per the reports.</p>

<p>As per the report from <b id="docs-internal-guid-fb2aab2f-7fff-317b-eb7c-9aee256674a0"><a href="https://beincrypto.com/ethereum-deflation-accelerates-new-record-six-months-post-merge/">BeinCrypto</a></b>, a news platform, it revealed that Deflation on the Ethereum network is ramping up as the supply has dropped to a record low six months after The Merge. Since the milestone event happened just under six months ago, the ETH supply has dropped by nearly 63,000. The current supply stands at about 120.45 million ETH. At these rates, the Ethereum supply is projected as 118.1 million by the year 2025. Issuance rewards for stakers will stand at around 4 percent per year, trumping the burn rate for non-stakers, which is 1.8 percent per year. The supply should also have a pearl of 120.6 million ETH at current levels over the next two years.</p>

<p><meta charset="utf-8" /></p>

<p>As per the data from Glassnode,&nbsp;blockchain data and intelligence platform showed that allocation of stacked Ether was done by service providers include, Lido which holds 29.3 percent of the staked ETH, followed by Coinbase at 12.8 percent, Kraken at 7.6 percent, and Binance at 6.3 percent.&nbsp;</p>

<h3><br />
Decrease in carbon emissions&nbsp;</h3>

<p>The decrease in supply of Ethereum is the clear cut indication of the Ethereum PoS achieving its goals of reducing 99 percent of CO2 and energy consumption.&nbsp;</p>

<p>In addition to benefiting the environment, the reduction in energy use and carbon dioxide emissions guarantees Ethereum's long term survival as a cryptocurrency asset. The decrease in the energy cost may provide miners with the accessibility to control their operations and thus encourage more platform development. &nbsp;Additionally, with fewer greenhouse gas emissions, Ethereum users may rest easy knowing that their investments are promoting a future for everyone that is more environmentally friendly.&nbsp;<br />
&nbsp;</p>

<h3>The surge, verge, Purge and Splurge&nbsp;</h3>

<p>Ethereum co-founder, Vitalik Buterin announced the upgrades to the existing The Merge in four main stages, which may likely be introduced this year. ‘The Surge,’ which is said to include the side-chains and sharding to Ethereum, with the objective to reduce the transactional time and cost. ‘The Verge’ will target the Verkle Trees which would emphasise on the reduction of existing node size. Then comes The Purge which would prioritise the network congestion problems, thus streamlining network storage. Fourth stage would be ‘The Splurge' which will upgrade to the fine-tune network operations and address any other issues from the older development stages.&nbsp;</p>


Launched in September 2022, Is The Merge really proved to be efficient in terms of less energy consumption, speed or cost?  

Ethereum made transition to 2.0 version in September 2022 

The quantity of ETH supply noticed reduction after The Merge, led to deflation 

 The goal of less carbon emissions achieved 

The Merge 

The Merge: Was it a significant upgrade for Ethereum? 

Impact of The Merge on 2023 

<p><br />
As per the information on Shanghai upgrade, nearly 17,000,000 ETH are said to be released on 12 April 2023. The announcement of Ethereum Shanghai upgrade or Shapella upgrade is said to be one of the biggest developments in relation to the fork, which will enable the stakers and validators to withdraw&nbsp;assets from the Beacon Chain.&nbsp;</p>

<p>“It should get very interesting as people anticipate the outcome of such a big unlock,” the influencer that goes by the name Crypto Tony wrote, hinting at a possible massive dump on the market.<br />
Withdraw the staked rewards&nbsp;</p>

<p>As a way of helping to ensure the security of the mechanism, validators have staked approx 16 million ETH. In September 2022, &nbsp;validators became important to the Ethereum blockchain, indicating The Merge, the process of shifting from Proof of Work to Proof of Stake. The new rules of The Merge suggest that validators that stake 32 ETH in the chain are eligible to be a part of validating blocks.</p>

<h3>Next big upgrade after The Merge&nbsp;</h3>

<p>Significantly, the Shanghai upgrade on the Ethereum blockchain is intended to give investors the first-ever opportunity to withdraw their staked rewards.&nbsp;</p>

<p>However, according to confirmed reports, the unlocking process is dynamic depending on the number of validators leaving the network. Exiting validators would undergo an exit queue and withdrawal period and wait for 27 hours or 36 days for the withdrawal to be finalised.&nbsp;</p>

<p>Reports highlighted the inclusion of EIP-4895 as the key development for Shanghai fork, with the aim to lessen gas fees at the time of high activity in order to make it advantageous for Ethereum developers.&nbsp;</p>

<h3>What’s more to know?&nbsp;</h3>

<p>A potential hard fork of the Ethereum protocol is called the Shanghai Upgrade. The Shanghai Upgrade's main objective is to increase liquidity for investors and validators who want to withdraw their money.&nbsp;<br />
Forks are modifications to the protocol of a blockchain. The fork in the Shanghai situation will be a ‘hard fork.’</p>

<p>According to Pooja Ranjan, creator of EtherWorld.co and leader of the Ethereum Cat Herders, non-upgraded nodes will no longer take part in the staking and validation process following the Shanghai Upgrade.</p>

<p>According to Ben Weiss, CEO of CoinFlip, "The Shanghai Upgrade is a rather moderate improvement, especially when compared to the merge this past autumn."</p>


Ethereum network eyes big on the next major upgrade after The Merge. 


Shanghai upgrade is set to begin unlocking 17 million ETH tokens from 12 April 

The withdrawal procedure changes based on existing validators 

Liquidity of investors and validators are perceived to increased 

Shanghai upgrade is on the way!

What's important to know in the upcoming Shanghai upgrade? 

What is Shanghai upgrade? 

<p>Ethereum is an open-source decentralised blockchain that has been co-founded by Vitalik Buterin. Ethereum offers much more utility than Bitcoin in terms of providing a layer to build applications for various emerging technologies like NFTs and even the Metaverse. In this section, we look at some of the news, developments and updates happening in&nbsp;Ethereum.&nbsp;</p>


Ethereum News and Updates: Find and read latest news on ethereum cryptocurrency. Check top headlines, videos, photos and breaking news on ethereum, ethereum crypto prices, ethereum cryptocurrency.