Cryptocurrency News Today TheBitTimes.com

Whenever the price of Ethereum approaches 0.03 per bitcoin (BTC), it usually means that something entertaining is happening or about to happen in crypto. The price level is notable for many reasons and somewhat storied in crypto history. From its debut in 2015 through the spring of 2016 — long before crypto was mainstream — Ethereum tried to gain listings on exchanges catering almost exclusively to BTC purists who scoffed at the fledgling project. Struggling to even attain a single-digit dollar price , ether (ETH) tried to breach the 0.03 per BTC ceiling on two, failed occasions in March and May. Efforts to ascend languished for another year. Then finally, in the spring of 2017, Ethereum’s lead founder Vitalik Buterin convinced enough investors to take an interest in the project above 0.03 per BTC. His catalyst? Ethereum’s ERC-20 standard and its associated initial coin offerings (ICOs). ETH tried to breach the 0.03 per BTC ceiling on two, failed occasio...

Energy use is down, and staking is up, but technical concerns still mark the road ahead for the second-largest cryptocurrency by market cap. One year after its historic transition to proof of stake, Ethereum has seen a massive reduction in energy use and a marked improvement in access to the network, however, a number of technical issues still mark the road ahead. The Merge was executed on Sept. 15, 2022 — an event that saw the Ethereum mainnet merging with a separate proof-of-stake blockchain called the Beacon Chain. The most noticeable improvement to Ethereum post-merge was the seismic shift from an energy -guzzling proof-of-work (PoW) consensus mechanism to PoS, which saw the Ethereum network drastically reduce its total power consumption. According to data from The Cambridge Centre for Alternative Finance, the Ethereum network has seen its energy use drop more than 99.9% from the approximately 21 terawatt hours of electricity it used while running under PoW. The Merge has reduced...