ICYMI: From Coinbase Global shares tumbling again to Cristiano Ronaldo promoting NFTs for the world’s biggest crypto exchange firm, here are the top stories from the cryptoverse
That's the name for a major upgrade of the Ethereum blockchain network upon which many crypto projects are built, aimed at making it leaner, meaner and cleaner.
The Ethereum Foundation, which uses the analogy of changing the engine of a spaceship mid-flight, says on its website that the merge is "shipping" around "Q3/Q4 2022". "People are just scared that their stETH is not going to be worth anything because the Merge is probably going to take longer than expected," said Xu.The upgrade will see ether mining transition away from the energy-intensive proof-of-work. Ethereum's existing execution layer will merge with the new proof-of-stake consensus system.
Until then, stETH trades at a price set by the market, with most trades occurring on a trading platform called Curve. The price has recovered a little - stETH currently trades at a 4% discount to ether - but has not made it back to parity, partly because of the impact of the delayed merge.ANY TAKERS FOR THAT TRADE?
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